H.R. 3840 (112th): Narrowing Exceptions for Withholding Taxes Act of 2012

Introduced:
Jan 31, 2012 (112th Congress, 2011–2013)
Sponsor:
Rep. Fortney “Pete” Stark [D-CA13]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on January 31, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Jan 31, 2012
Referred to Committee Jan 31, 2012
Cosponsors
6 cosponsors (6D) (show)
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Internal Revenue Code of 1986 and the Social Security Act to provide for employment tax treatment of professional service businesses.

Summary

No summaries available.

Text

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Last updated Jan 31, 2012.
6 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

1/31/2012--Introduced.
Narrowing Exceptions for Withholding Taxes Act of 2012 - Amends the Internal Revenue Code and title II (Old-Age, Survivors, and Disability Insurance Benefits) of the Social Security Act to require a shareholder of a subchapter S corporation engaged in a professional service business to include all items of income or loss attributable to such business in determining such shareholder's net earnings from self-employment for purposes of computing employment tax liability.
Defines a "professional service business" as any trade or business substantially all of the activities of which involve providing services in the fields of health, law, lobbying, engineering, architecture, accounting, actuarial science, performing arts, consulting, athletics, investment advice or management, or brokerage services.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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