Certified Public Accountants

Newsletter

Congress in Brief

Feb 15, 2011

Congress is almost in a stalemate waiting for the 2012 elections, but in the past couple of months, it has managed to pass a few tax bills with several important provisions. Con- gress has voted to repeal the requirement that government entities withhold 3% of payments made to private contractors for goods and ser- vices. This provision was scheduled to go into effect in 2013. The repeal bill also includes tax credits for hiring veterans which take effect immediately. Congress also passed a...

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