Wednesday
Apr142010
IRS Chief Emphasizes Commitment To Helping Small Businesses
Wednesday, April 14, 2010 at 6:15PM
By Justine Rellosa
Talk Radio News Service
On the eve of Tax Day, IRS Commissioner Douglas Shulman assured members of the House Committee on Small Business that his agency is working to lower the need for tax enforcement nationwide by helping educate individuals and business on compliance issues.
"The IRS's actions reflect our commitment to service, one of the IRS's most important goals as it goes about its mission of administering and enforcing the nation's tax laws," said Shulman.
He explained that the IRS has been moving swiftly during the past 15 months to implement new tax law provisions that are meant to help small businesses prosper.
"The Hiring Incentives to Restore Employment (HIRE) Act, which was signed into law last month, gives small businesses an important incentive to start hiring again and we're working to implement that quickly...We've already begun to mobilize and let small businesses know the new tax credit that's available to them to help buy health insurance for their employees," explained Shulman.
Under the HIRE Act, employers who hire unemployed individuals can qualify for a 6.2 percent payroll tax incentive and claim an additional general business tax credit.
Shulman said that the credit will particularly benefit small businesses and non-profits that employ low and moderate income workers.
Talk Radio News Service
On the eve of Tax Day, IRS Commissioner Douglas Shulman assured members of the House Committee on Small Business that his agency is working to lower the need for tax enforcement nationwide by helping educate individuals and business on compliance issues.
"The IRS's actions reflect our commitment to service, one of the IRS's most important goals as it goes about its mission of administering and enforcing the nation's tax laws," said Shulman.
He explained that the IRS has been moving swiftly during the past 15 months to implement new tax law provisions that are meant to help small businesses prosper.
"The Hiring Incentives to Restore Employment (HIRE) Act, which was signed into law last month, gives small businesses an important incentive to start hiring again and we're working to implement that quickly...We've already begun to mobilize and let small businesses know the new tax credit that's available to them to help buy health insurance for their employees," explained Shulman.
Under the HIRE Act, employers who hire unemployed individuals can qualify for a 6.2 percent payroll tax incentive and claim an additional general business tax credit.
Shulman said that the credit will particularly benefit small businesses and non-profits that employ low and moderate income workers.
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