S. 2145 (112th): Fair Playing Field Act of 2012

Introduced:
Mar 01, 2012 (112th Congress, 2011–2013)
Status:
Died (Referred to Committee)
Sponsor
John Kerry
Senator from Massachusetts
Party
Democrat
Text
Read Text »
Last Updated
Mar 01, 2012
Length
18 pages
Related Bills
S. 3786 (111th) was a previous version of this bill.

Referred to Committee
Last Action: Sep 15, 2010

H.R. 4123 (identical)

Referred to Committee
Last Action: Mar 01, 2012

 
Status

This bill was introduced on March 1, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Mar 01, 2012
Referred to Committee Mar 01, 2012
 
Full Title

A bill to amend the Internal Revenue Code of 1986 to permit the Secretary of the Treasury to issue prospective guidance clarifying the employment status of individuals for purposes of employment taxes and to prevent retroactive assessments with respect to such clarifications.

Summary

No summaries available.

Cosponsors
9 cosponsors (9D) (show)
Committees

Senate Finance

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

 
Primary Source

THOMAS.gov (The Library of Congress)

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Citation

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Notes

S. stands for Senate bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

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


3/1/2012--Introduced.
Fair Playing Field Act of 2012 - Amends the Internal Revenue Code, with respect to the classification of workers for employment tax purposes, to:
(1) repeal the prohibition against issuance of regulations and guidance by the Secretary of the Treasury on workers' employment tax status (i.e., as an employee or as an independent contractor) enacted by the Revenue Act of 1978;
(2) direct the Secretary to issue regulations and other guidance to clarify the proper employment status of workers for employment tax purposes;
(3) prohibit a retroactive assessment of employment tax, except with respect to certain skilled workers, for tax periods after December 31, 1978, and before a specified reclassification date for worker misclassifications, unless the taxpayer had no reasonable basis for not treating a worker as an employee;
(4) require taxpayers who hire independent contractors on a regular and ongoing basis to provide such contractors with notice of their federal tax obligations, the labor and employment law protections that do not apply to them, and their right to seek a status determination from the Internal Revenue Service (IRS); and
(5) eliminate reduced penalty provisions for failure to withhold income taxes for taxpayers who lack a reasonable basis for treating a worker as other than an employee (i.e., as an independent contractor).
Provides that for purposes of determining whether a registered representative of a securities broker-dealer is an employee for employment tax purposes, no weight shall be given to instructions from a service recipient which are imposed only in compliance with investor protection standards. Makes this rule applicable to services performed by a broker-dealer after December 31, 1997.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.

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