Small Business Tax Fairness and Compliance Simplification Act

Hozzl · 2025-07-04T20:38:49Z

Explore the details of Senate Bill 1998 Small Business Tax Fairness and Compliance Simplification Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

7/4/2025, 8:38 PM

Summary of Bill S 1998

A bill introduced in the 119th Congress with the title "A bill to amend the Internal Revenue Code of 1986 to simplify reporting requirements, promote tax compliance, and reduce tip reporting compliance burdens in the beauty service industry" aims to address tax reporting complexities within the beauty service sector. The bill proposes changes to the Internal Revenue Code to streamline reporting processes, enhance tax adherence, and alleviate the burden of tip reporting specifically within this industry. Introduced on June 9, 2025, the bill focuses on promoting tax compliance and simplification in the beauty service sector.

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Current Status of Bill S 1998

Bill S 1998 is currently in the status of Bill Introduced since June 9, 2025. Bill S 1998 was introduced during Congress 119 and was introduced to the Senate on June 9, 2025. Bill S 1998's most recent activity was Read twice and referred to the Committee on Finance. as of June 9, 2025

Bipartisan Support of Bill S 1998

Total Number of Sponsors

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Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 1998

Primary Policy Focus

Taxation

Alternate Title(s) of Bill S 1998

A bill to amend the Internal Revenue Code of 1986 to simplify reporting requirements, promote tax compliance, and reduce tip reporting compliance burdens in the beauty service industry.