S. 1773, The Small Business Payroll Protection Act of 2007

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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S. 1773 would amend the Internal Revenue Code of 1986 to regulate payroll tax deposit agents.

Detailed Summary

Small Business Payroll Protection Act of 2007 - Amends the Internal Revenue Code to require the Secretary of the Treasury to establish a registration system for payroll tax deposit agents (defined as any person that provides payroll processing or tax filing and deposit service to one or more employers). Requires such agents to: (1) submit a bond or to submit to quarterly third-party certifications; (2) make certain disclosures to their clients concerning liability for payment of employment taxes; and (3) pay penalties for failing to collect or pay over employment taxes or for attempting to evade or defeat payment of such taxes.

Requires the Secretary of the Treasury to: (1) issue a notice of confirmation of any address change for an employer making employment tax payments; and (2) send such notice to both the employer's former and new address.

Status of the Legislation

Latest Major Action: 7/12/2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.

Points in Favor

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Points Against

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