Tax & Budget Archives - National Small Business Association : National Small Business Association

Infrastructure Bill Could Hike Taxes

March 30, 2021

The Biden administration is preparing to release an ambitious infrastructure bill which will be financed in part by tax increases in addition to deficit spending.

One Week Short-Term CR

December 9, 2020

Lawmakers are expected to approve a one-week extension to approving a government-wide spending bill, bumping the deadline to Dec. 18.

Treasury Denies PPP Deductibility

November 25, 2020

Recently, Treasury and the IRS released guidance clarifying that forgivable PPP loan funds are not deductible, contrary to Congressional intent.

New IRS Form 1099-NEC Radically Changes Tax Reporting

November 23, 2020

NSBA partner ComplyRight explains new reporting requirements for independent contractors.

Senate OKs Stopgap Spending Bill

September 30, 2020

The Senate voted 82-6 Tuesday evening to advance a stopgap spending bill to avert a government shutdown by midnight tonight.

Negotiations Resume on Stimulus Package

September 30, 2020

House Speaker Nancy Pelosi (D-Calif.) and Treasury Secretary Steven Mnuchin have revived negotiations over another stimulus bill this week.

House OKs CR Spending Bill

September 23, 2020

Late Tuesday evening, the House approved--with bipartisan support--a Continuing Resolution spending bill to fund the federal government through Dec. 11.

Payroll Tax Deferral Guidance

September 2, 2020

Treasury and the IRS have released guidance to implement President Trump’s directive to allow employers to defer payroll taxes through Dec. 31.

President Signs EOs with Stimulus Package on Hold

August 12, 2020

Over the weekend, President Donald Trump issued a series of Executive Orders (EOs) focused on providing ongoing pandemic relief. Among those provisions is one that would implement a temporary deferral of the payroll tax through Dec. 31, 2020. The EO appears to allow employers to hold off on collecting the...

NSBA Seeks Clarity on Payroll Tax Executive Order

August 10, 2020

President Trump recently issued a series of Executive Orders (EOs) focused on providing ongoing pandemic relief, including one that would implement a temporary deferral of the payroll tax through Dec. 31, 2020.