FARGO – Republican Rep. Rick Berg will meet with local small business owners on Monday to discuss new legislation he recently introduced in Congress.
In late April, Berg proposed the “Small Business Tax Simplification Act,” legislation which Berg said would allow more small businesses to be eligible for a simplified tax filing method with the IRS.
Current law allows business with up to $5 million in gross receipts to use a certain form of accounting when filing their annual taxes. Berg’s legislation would expand that to include businesses with up to $10 million in gross receipts.
Berg will talk Monday with Fargo-area small business owners and the National Federation of Independent Businesses about how the legislation would affect them. The event is slated for 9 a.m. at Fargo Moorhead Custom & Collision, 1760 5th Ave. N. in Fargo.
As of today, the “Small Business Tax Simplification Act” had six co-sponsors, four Republicans and two Democrats. The bill has been referred to the House Ways & Means Committee, of which Berg is a member.
Berg is in his first term in the U.S. House. He’s seeking North Dakota’s open U.S. Senate seat this year.