Taxes

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  • Chairman Chabot's Commentary on CNBC.com: The big problem with taxes on small business
    Posted in Op-Eds on April 15, 2015 | Preview rr
    Tags: Taxes

    Chairman Chabot's Commentary on CNBC.com: The big problem with taxes on small business Original Article It's here. A day that nobody looks forward to. A day when we have to reach into our pockets and cut a check for Uncle Sam: Tax Day. While it has never been the most popular day of the year, somehow, Tax Day – and all of the stress, labor, and money that go into preparing for it —has gotten worse, particularly for family businesses and entrepreneurs. Every year Americans spend 6.1 billion hour... Read more

  • Next Week at Small Business: Tax Reform
    Posted in Press Releases on April 10, 2015 | Preview rr
    Tags: Taxes

    Next Week at Small Business: Tax Reform ​Ensuring that Main Street Isn't Left Behind WASHINGTON -- The Small Business Committee will hold the following hearing next week: Full Committee Hearing Chairman Steve Chabot (R-OH) Wednesday, April 15, 2015 at 11:00 A.M. 2360 Rayburn House Office Building Tax Reform: Ensuring that Main Street Isn't Left Behind On Wednesday, April 15, 2015, at 11:00 A.M., the Committee on Small Business will hold a hearing titled, "Tax Reform: Ensuring that Main Street Is... Read more

  • Graves Presses IRS About New Obamacare Small Business Forms
    Posted in Press Releases on October 8, 2014 | Preview rr
    Tags: Taxes

    House Small Business Committee Chairman Sam Graves (R-MO) today pressed the Internal Revenue Service (IRS) to address the complexity of the agency’s recently released Obamacare compliance forms for small businesses, and asked what is being done to educate and help small businesses with these requirements. “In mid-September, the Internal Revenue Service (IRS) published numerous draft forms and instructions for compliance with the tax provisions of the Affordable Care Act. These documents are leng... Read more

  • Graves' Statement on Tax Day and the Small Business Tax Burden
    Posted in Press Releases on April 15, 2014 | Preview rr
    Tags: Taxes

    Small Business Committee Chairman Sam Graves (R-MO) today released the following statement on Tax Day and the effects of tax policies on small businesses: “Every year, the tax burden becomes more costly for America’s 28 million small businesses. The tax code is increasingly complicated and changes often. Most small businesses spend 40 hours or more preparing their taxes, and four out of ten businesses spend two full workweeks on compliance. That is a high cost in lost time and productivity for a... Read more

  • Committee Examines Burden of Tax Compliance for Small Businesses
    Posted in Press Releases on April 9, 2014 | Preview rr
    Tags: Taxes

    As we approach the Tax Day filing deadline, the Small Business Committee, under the chairmanship of Rep. Sam Graves (R-MO), today examined the challenges small businesses face complying with the tax code. In addition, a new National Small Business Association (NSBA) tax survey was released in conjunction with the testimony of NSBA member Tim Reynolds, a small business executive. The survey shows that a majority of small businesses spend 40 hours preparing to file their taxes, while 40 percent sp... Read more

  • Small Business Needs Big Tax Reform, Too
    Posted in Op-Eds on August 15, 2013 | Preview rr
    Tags: Taxes

    Small Business Needs Big Tax Reform, Too By Chairman Sam Graves Small businesses are important to our economy and to our economic recovery, so why should they be forgotten in tax reform plans? President Obama's proposal on July 30 for a corporate tax cut completely ignores small businesses. Many of them already pay higher taxes and faced a tax hike at the beginning of the year, yet the President's flawed and incomplete plan only increases that inequity. The fact is that comprehensive tax reform... Read more

  • The Hill: Chairman Graves Presses IRS Over Small Business Letters
    Posted in Articles on August 9, 2013 | Preview rr
    Tags: Taxes

    Small Business Panel Presses IRS Over Outreach By Bernie Becker The chairman of the House Small Business Committee is pressing the IRS over letters the agency is sending that he fears companies could find threatening. The IRS, Rep. Sam Graves (R-Mo.) says, is currently telling small business owners that they might have underreported their income, based on the reports the agency receives about a company’s debit and credit card receipts. In a letter to the agency, Graves suggests that the letters ... Read more

  • Committee Examines IRS Methods for Auditing Small Businesses
    Posted in Press Releases on July 17, 2013 | Preview rr
    Tags: Taxes, Oversight

    The House Small Business Committee, led by Chairman Sam Graves (R-MO), today held a hearing examining the methods the Internal Revenue Service (IRS) uses to audit small businesses. Acting IRS Commissioner Daniel Werfel testified. The purpose of the hearing was to identify how the agency selects and classifies the tax returns of small businesses, in light of revelations that the IRS used inappropriate criteria to unfairly target certain groups. “Congress has a responsibility to ascertain just how... Read more

  • Graves: Did IRS Target Small Businesses for Political Reasons?
    Posted in Press Releases on May 31, 2013 | Preview rr
    Tags: Taxes

    WASHINGTON, DC – House Small Business Committee Chairman Sam Graves (R-MO) today wrote to the IRS to inquire whether the agency also targeted small businesses for political reasons as they did with conservative nonprofit groups. Among many questions, Graves asks whether the tax returns of small businesses were selected for closer review and what criteria were used to select small businesses for audits. In 2011, Graves led a joint hearing with Oversight & Government Reform Chairman Darrell Issa ... Read more

  • Hearing Highlights Tax Reform’s Benefits to Small Businesses, Features Chairman Camp’s Testimony
    Posted in Press Releases on April 10, 2013 | Preview rr
    Tags: Taxes

    WASHINGTON, D.C. – The House Small Business Committee, led by Chairman Sam Graves (R-MO), today held a hearing that highlighted the benefits to small businesses from tax reform and simplification, and for the first time since 1979, the Committee heard testimony from the House Ways and Means Chairman. Ways and Means Chairman Dave Camp (R-MI) testified about his small business tax reform discussion draft, a part of the Committee’s effort to pursue comprehensive tax reform during the 113th Congress... Read more