To amend the Internal Revenue Code of 1986 to simplify reporting requirements, promote tax compliance, and reduce tip reporting compliance burdens in the beauty service industry.
Summary
What This Bill Does
The bill creates short title This Act may be cited as the Small Business Tax Fairness and Compliance Simplification Act, requires extension of credit for portion of employer social security taxes paid with respect to employee tips to beauty service establishments Section 45B(b)(2) of such Code is amended to read as follows: (2)Application, and requires employer tip reporting safe harbor Section 3121(q) of the Internal Revenue Code of 1986 is amended— by striking so much as precedes of this chapter and inserting the following: (q)Tips included for both. It relies on compliance mandates, tax rate changes, reporting requirements, and definition changes. The main policy areas are Business, Finance, Housing, and Education.
Who Benefits and How
Businesses and employers affected by the bill could face reduced risk, Public beneficiaries or protected communities affected by the clause could face reduced risk, and Homeowners, tenants, or housing market participants affected by the bill could gain revenue opportunities.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties, Businesses and employers affected by the bill would take on compliance duties, and Homeowners, tenants, or housing market participants affected by the bill would take on compliance duties.
Key Provisions
- Creates short title This Act may be cited as the Small Business Tax Fairness and Compliance Simplification Act.
- Requires extension of credit for portion of employer social security taxes paid with respect to employee tips to beauty service establishments Section 45B(b)(2) of such Code is amended to read as follows: (2)Application...
- Requires employer tip reporting safe harbor Section 3121(q) of the Internal Revenue Code of 1986 is amended— by striking so much as precedes of this chapter and inserting the following: (q)Tips included for both...
- Provides information reporting of income from space rentals in the beauty service industry Subpart B of part III of subchapter A of chapter 61 of the Internal Revenue Code of 1986 is amended by adding at the end...
- Provides returns relating to income from certain rentals of space in the beauty service industry Any person who, in the course of a trade or business and for any calendar year, receives rental payments from two or more...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill creates short title This Act may be cited as the Small Business Tax Fairness and Compliance Simplification Act, requires extension of credit for portion of employer social security taxes paid with respect to employee tips to beauty service establishments Section 45B(b)(2) of such Code is amended to read as follows: (2)Application, and requires employer tip reporting safe harbor Section 3121(q) of the Internal Revenue Code of 1986 is amended— by striking so much as precedes of this chapter and inserting the following: (q)Tips included for both.
Key Policy Areas
Business, Finance, Housing, Education
Primary Purpose
The bill creates short title This Act may be cited as the Small Business Tax Fairness and Compliance Simplification Act, requires extension of credit for portion of employer social security taxes paid with respect to employee tips to beauty service establishments Section 45B(b)(2) of such Code is amended to read as follows: (2)Application, and requires employer tip reporting safe harbor Section 3121(q) of the Internal Revenue Code of 1986 is amended— by striking so much as precedes of this chapter and inserting the following: (q)Tips included for both.
Policy Domains
Whole bill
Identified Gains
- Businesses and employers affected by the bill
- Public beneficiaries or protected communities affected by the clause
- Homeowners, tenants, or housing market participants affected by the bill
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Businesses and employers affected by the bill
- Homeowners, tenants, or housing market participants affected by the bill
- Educational institutions and students affected by the bill
Sponsors
Legislative Progress
IntroducedMr. LaHood (for himself and Ms. DelBene) introduced the following …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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