113/s/479

. Upon introduction to the Senate, the bill was read twice and referred to the.

Summary
This legislation amends the Internal Revenue Code to treat professional employer organizations (PEOs), certified by the Internal Revenue Service (IRS), as employers for employment tax purposes (thus allowing such PEOs to pay wages and collect and remit payroll taxes on behalf of an employer).

Sets forth IRS certification requirements for PEOs, including financial review and reporting requirements. Requires a PEO to post a bond each year, up to $1 million, to guarantee payment of employment taxes.

Sponsor and Cosponsors
There 5 cosponsors of the bill.