Big tax problems for small business

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in Small Business Tax

On April 9, 2014, the House Committee on Small Business held a hearing titled “The Biggest Tax Problems for Small Businesses.” Chairman Sam Graves, R-Mo., pointed out several issues hampering the small business community, including higher taxes, new concerns like the Medicare surtaxes, increased complexity, uncertainty for the future and the lengthy time required to resolve issues with the IRS.

“Taxes are getting more complicated every year, and compliance is a huge drain on resources. Jobs remain scarce, and the heavy burden of tax compliance is another obstacle to growth,” said Graves. It remains to be seen if the small business committee can exert pressure to effect change.

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