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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Sep 10, 1985.
Small Business Tax Simplification Act of 1985 - Amends the Internal Revenue Code to allow employers who withhold an aggregate amount of FICA and income taxes of less than $5,000 per month to make deposits of such taxes once per month. Allows an inflation adjustment to such aggregate amount beginning after 1986. Repeals the $25,000 limit on the amount of litigation costs which may be awarded to a prevailing party in civil tax cases. Denies the awarding of litigation costs if: (1) the United States proves that its position was justified; or (2) special circumstances exist; or (3) the prevailing party protracted the proceedings. Applies the Regulatory Flexibility Act to the Internal Revenue Service.