Murphy Introduces Legislation to Simplify Tax Payment for Small Business Owners and Self-Employed Taxpayers | Eastern NC Now

Press Release:

    Washington, D.C.     On Wednesday, February 26, 2020, Congressman Greg Murphy, M.D. (NC-03) introduced H.R. 5979, the Tax Deadline Uniformity Act. Each year, taxpayers must make four estimated tax payments on April 15, June 15, September 15 and January 15. Although most small businesses keep track of their business on a three-month quarterly schedule, tax estimates are not due on an intuitive basis.

    The Tax Deadline Uniformity Act would make compliance simpler for small business owners and self-employed taxpayers by setting due dates for tax estimates evenly three months apart. Upon introduction, the bill was referred to the House Committee on Ways and Means. The text of the bill can be found HERE. National Taxpayers Union and Americans for Tax Reform are in support of the bill.

    "Small business owners and self-employed entrepreneurs can't afford teams of lawyers and accountants to work through complicated and inconsistent legal tax requirements. As a small business owner myself, I understand the tremendous number of dates and details one must remember. Simplifying the tax process will help alleviate unneeded burden and stress for these small businesses," said Murphy.

    "Without question, small businesses are the backbone of eastern North Carolina. According to the Small Business Administration, they account for 99.7 percent of all U.S. employer firms. Making their tax payment deadlines simpler should be a common-sense and bipartisan solution."

• Michael Mead
• Communications Director
• Congressman Greg Murphy, M.D. (NC-03)
• Ph: (202) 225-3415
• michael.mead@mail.house.gov