Cornyn, Heller, Roberts Introduce Small Business Taxpayer Bill of Rights Act
by John Cornyn on April 18, 2018 at 1:22 PM
U.S. Senators Dean Heller (R-NV), Pat Roberts (R-KS), and I yesterday introduced the Small Business Taxpayer Bill of Rights Act, legislation to slash red tape for taxpayers and allow small business owners to spend more time creating jobs and less time dealing with burdensome IRS procedures and auditing practices.
Each year, Tax Day reminds us that small business owners must spend thousands of hours conforming to IRS requirements instead of boosting the economy and creating jobs. This bill lowers the compliance burden, strengthens taxpayer protections, and ensures small businesses are not targeted for additional scrutiny based on discrimination.
“All too often Nevada’s small business owners tell me that onerous regulations are holding them back from expanding their companies and hiring more workers. That’s why this Tax Day I’m proud to help introduce the Small Business Taxpayer Bill of Rights Act, legislation that puts the IRS on notice and strengthens taxpayer protections so that these local job creators can focus on growth rather than bureaucracy,” said Sen. Heller. “When small businesses succeed, Nevada succeeds and I’ll continue to fight for policies that allow our local employers to thrive and prosper.”
“Small businesses should be able to focus on growth rather than spending scarce resources on compliance with onerous and burdensome tax policies,” said Sen. Roberts. “This bill will give small businesses the protections they need to prosper.”
This year, research has shown taxpayers will have spent more than eight billion hours completing IRS forms, costing almost $200 billion in cumulative monetized costs. This is a 14 percent increase from 2017.