FEDERALhearing transcript

Senate Hearing on Reducing Tax Paperwork for Small Businesses

Original title: TARGETED TAX REFORM: SOLUTIONS TO RELIEVE THE TAX COMPLIANCE BURDENS FOR AMERICA'S SMALL BUSINESSES

January 1, 2016

small business tax reform tax compliance federal regulation entrepreneurship

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The Frame

What this does

This hearing explored potential legislative changes to reduce the time and money small businesses spend on tax filing and regulatory compliance, which directly impacts their operational costs.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Small business owners

They are the primary group subject to the tax compliance regulations discussed in the hearing.

Tax professionals

They provide services to small businesses and are involved in the implementation of tax compliance requirements.

What changed

Last recorded activity January 1, 2016.

What's next

Next step not available in the current record.

Summary

The Senate Committee on Small Business and Entrepreneurship held a hearing on July 22, 2015, to discuss ways to simplify for small business owners. The committee heard testimony from business owners, tax professionals, and policy experts regarding the administrative burdens of the current tax code.

Key Facts

The Senate Committee on Small Business and Entrepreneurship held a hearing on July 22, 2015, regarding tax compliance burdens.
The hearing featured two panels of witnesses, including small business owners, tax counsel, and policy professors.
The committee reviewed support for the 'Small Business Tax Compliance Relief Act' from multiple advocacy groups.
Witnesses included representatives from ProSys, Inc., Begneaud Manufacturing, UPakNShip, and the Kogod Tax Policy Center.
The hearing record includes letters of support for tax relief from the Angel Capital Association, Louisiana Association of Business and Industry, and the Small Business Investor Alliance.

Frequently Asked Questions

What was the purpose of this hearing?

To examine the administrative and financial burdens small businesses face when complying with federal tax laws and to discuss potential legislative solutions.

Who testified at the hearing?

The hearing included two panels consisting of small business owners, tax attorneys, and representatives from organizations like the National Small Business Association and the AICPA.

Why It Matters

This hearing explored potential legislative changes to reduce the time and money small businesses spend on tax filing and regulatory compliance, which directly impacts their operational costs.

News Coverage

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Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

cross reference90% confidence

Broad Industry Support

A wide range of diverse business advocacy groups, from the Angel Capital Association to the Society of Louisiana Certified Public Accountants, submitted letters of support for the same legislative act.

Small Business Tax Compliance Relief Act

Connected Entities

personDavid Vitter“Chairman of the Senate Committee on Small Business and Entrepreneurship”Map →

organizationNational Federation of Independent Business“Provided testimony and letters of support”Map →

personJeanne Shaheen“U.S. Senator from New Hampshire”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance65
How much this matters to a regular citizen
Controversy20
Intensity of disagreement among stakeholders
Entertainment5
Compellingness for a non-policy-wonk reader
Buzz10
Current news / social attention level

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