Chairman Chabot Testifies at Ways and Means Hearing on Tax Bill
WASHINGTON – This week, House Committee on Small Business Chairman Steve Chabot testified in front of a House Ways and Means subcommittee at a hearing on ways to improve tax administration. Specifically, he spoke on legislation he introduced, H.R. 3717, the Small Business Owners’ Tax Simplification Act.
“H.R. 3717 takes simple common sense steps to reform how taxes are administered. Among the many reforms outlined in the bill, H.R. 3717 would realign estimated tax payment deadlines, which cause confusion, because they currently do not fall when calendar quarters actually conclude,” said Chairman Chabot.
“Next, the legislation requires the Secretary of the Treasury to set standards for accepting digital signatures. And when a direct deposit refund is in order, pre-notification testing is also required.”
Lastly, Chairman Chabot added, ”To address the pace at which small businesses are pursuing the sharing economy, we examined the important decisions small businesses make when it comes to independent contractors and worker classifications. Specifically, the legislation would allow companies to enter into voluntary withholding agreements and offer voluntary training without impacting classifications.”
Chairman Chabot asked the Ways and Means Committee to take these provisions into account as they address tax administration. To watch the video testimony, click HERE.