Here is some excellent news for contractors: your payroll taxes won’t get the “jack up” that many expected. In fact, most contractors are going to pay less in unemployment next year! Lets discuss more of the specifics.[...]
Archive for the ‘Taxation’ Category
October 28th, 2011 - 10:44 am § in Construction News, Federal & State Contracts, Public Contracting, Taxation
Three Percent Repeal: Obama Is In, The House Is In, The Senate Is Up Next
Lets try and give you some good news headed into the weekend. Contractors can smile today, a day after the House of Representatives voted for repeal of the 3% Withholding Rule in a landslide. What’s more? Obama and the White House issued public support for repeal. Now, we all wait for t[...]
This Three Percent Withholding Is Ruffling The Feathers of Our Construction Industry
Last week, the Senate failed to pass a bill that would have repealed the 3% Withholding Rule. The proposed bill would have cut close to $30 Billion in discretionary spending in order to replace the more than $11 Billion expected to be recovered through withholding. The measure fell 3 votes sh[...]
House Plans October Vote on 3% Withholding Repeal
According to a number of news reports, the big debate over the “3% Withholding Rule” may be headed to the House floor. A House committee will perform final revisions to H.R. 674 as early as this week. Here is the latest on one of construction’s most heated initiatives.[...]
June 20th, 2011 - 1:17 pm § in Construction News, Federal & State Contracts, Public Contracting, Taxation
The Team To Repeal The 3% Withholding Rule Grows
It looks like support is growing for the ever-popular movement against the “3% Withholding Rule.” According to the AGC, another 9 congressional leaders have joined the fight. But, will it be enough?[...]
May 10th, 2011 - 9:03 am § in Construction News, Federal & State Contracts, Legislation & Law, New Laws, Public Contracting, Taxation
Final Version of the 3% Withholding Rule Issued, All Contracts Affected by 2014
The Associated General Contractors of America report that the Internal Revenue Service has issued its final version of a regulation that will impair all government contracts by 2014. The now infamous “3% Withholding Rule” requires government agencies to withhold 3% of every contra[...]
