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Lawmakers Searching for Revenue May Look at S Corporations

Lawmakers scrounging for revenue to offset the costs in a tax bill are taking a look at certain types of small businesses and considering a...
April 27, 2010

Lawmakers scrounging for revenue to offset the costs in a tax bill are taking a look at certain types of small businesses and considering a provision that would make it harder for owners of those companies to avoid paying employment taxes. It's unclear exactly what language the tax writers are considering, but a similar provision that would have affected companies organized as S corporations was included in a 2007 proposal. In recent years, more companies have organized as S corporations. According to a 2009 Government Accountability Office report, the number of S corporations increased 35 percent between 2000 and 2006.

Tax Writers Look at S Corporations (CQ Today 4/23/10)

April 27, 2010