Chief Counsel for Advocacy Winslow Sargeant applauded the recent decision by Internal Revenue Service (IRS) to postpone the starting date for the three percent contractor withholding rule and continued to call for its elimination. The rule requires governments to withhold three percent of nearly all payments made to contractors. With the postponement, the rule now applies to contracts awarded after December 21st, 2012. The Office of Advocacy has consistently worked with small businesses for the elimination of this unfair tax.
Continue...