To amend the Internal Revenue Code of 1986 to repeal the expansion of certain information reporting requirements to corporations and to payments for property, to impose a surcharge on high income taxpayers, and for other purposes.
Small Business Tax Relief Act of 2011 - Repeals the provision of the Patient Protection and Affordable Care Act that extends to corporations that are not tax-exempt the requirement to report payments of $600 or more.
Amends the Internal Revenue Code to impose a 5.4% surcharge on individual taxpayers whose modified adjusted gross income exceeds $1 million. Dedicates revenues from such surcharge to federal deficit or debt reduction.
Referred to the House Committee on Ways and Means.
Read twice and referred to the Committee on Finance.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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