House proposal could boost payroll taxes for small businesses

06/8/2010 |

Payroll taxes could increase for some S corporations under a proposal under consideration in the House. The provision aims to close a loophole that allows businesses to escape paying the 2.9% Medicare tax on much of their income. Details haven't yet been released on the small-business tax-compliance proposal and the larger tax bill, but the House is expected to vote on the measure next week.

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