As one of America’s small business owners, your personal stories of small business success and hardship can influence lawmakers in meaningful ways.
We need your help – your stories and voice – to protect small businesses from surprise tax increases and keep small business regulatory burdens out of the National Defense Authorization Act (NDAA).
In less than two weeks, hundreds of small business owners will gather for the 2020 NFIB Virtual Fly-In and engage with Congress on key legislative issues that impact small businesses. NFIB Fly-Ins have a proven track record of influencing Congress in beneficial ways. With the engagement of NFIB members, we’ve successfully urged Congress to pass tax cuts for small businesses, repeal the IRS health penalty, make small business expensing permanent, and more.
What’s next? You can help make the 2020 NFIB Fly-In – happening virtually this year – amplify the voice of small business by completing this survey. We’re fighting for the next coronavirus relief package to help small businesses, not wrap them in red tape, and we’re fighting to prevent H.R. 2513, the Corporate Transparency Act of 2019 from being passed in the final version of the National Defense Authorization Act of 2021. To do this, your opinions, experiences and stories are more important than ever. Please consider completing this survey to speak up on behalf of America’s small business owners, who need Congress on their side.
Our brief survey includes questions about your current experience as a small business, including the following two important small business legislative issues:
1. The IRS issued guidance that reversed Congressional intent and would prevent businesses from deducting Paycheck Protection Program forgiven expenses.
However, now is the time to support small business owners – not burden them further with backdoor tax increases and administrative headaches.
Solution: NFIB urges Congress to:
- Restore deductibility of forgiven Paycheck Protection Program expenses
- Reinstate the ability to deduct forgiven expenses and reverse the IRS guidance
- Cosponsor H.R. 6821/S. 3612, the Small Business Expense Protection Act of 2020, to restore Congressional intent
2. The House-passed NDAA of 2021 included an unrelated, burdensome, and problematic amendment for small businesses.
This amendment, known as the Corporate Transparency Act of 2019 (H.R. 2513), would require nearly every business with 20 or fewer employees to register the personal information of business owners – every year – in a database accessible to local, state, tribal, and federal law enforcement without a subpoena or warrant. Failure to complete these reports could result in penalties up to $10,000 or up to 3 years in prison.
The Senate-passed NDAA did not contain this provision. House and Senate NDAA Conferees must decide if this small business mandate will remain in the final version.
Solution: NFIB opposes H.R. 2513, the Corporate Transparency Act of 2019, and urges exclusion from the final conference version of the National Defense Authorization Act of 2021.
In a recent NFIB member ballot, 80% of small business owners opposed Congress requiring small business owners to file paperwork with the Treasury Department each time they form or change ownership of their businesses.