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Snowe Urges Small Businesses to Use Updated Tax Forms Following Congress' Passage of AMT Relief

Thursday, December 20, 2007


WASHINGTON, D.C. – Senate Small Business and Entrepreneurship Committee Ranking Member Olympia J. Snowe (R-Maine) today urged small businesses, which already face higher compliance burdens and costs than larger enterprises, to utilize updated tax forms and software in light of Congress’ late passage of alternative minimum tax (AMT) relief legislation (H.R. 3996).  The Internal Revenue Service (IRS) has pledged to post revised tax forms to its website within 72 hours after the AMT patch is signed into law to assist the tax professional and software communities in preparing for the upcoming filing season. 

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Small businesses represent 99 percent of all employers, create nearly 75 percent of all net new jobs, and employ 51 percent of the private-sector workforce. They are the foundation, the base, the core of our economy. America is America because of our small businesses. - Senator Snowe.

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