Tax Law Updates | New Proposed Legislation
April 21, 2009
Rep. Foxx’es Bill Abolishes Withholding of Income and Social Security Taxes
Federal Withholding Tax Repeal Act of 2009
H.R. 1919, 4/2/2009
Rep. Virginia Foxx, R-N.C., has introduced the Federal Withholding Tax Repeal Act of 2009 (H.R. 1919), a bill would repeal the withholding of income and Social Security taxes.
The proposed legislation bears the title “To amend the Internal Revenue Code of 1986 to repeal the withholding of income and social security taxes, “ and was filed on April 2, 2009.
According to Rep. Foxx, by allowing for voluntary federal tax withholding, “this bill would not only enhance awareness of how much the government takes in federal income taxes, but also allow taxpayers to collect interest on their capital throughout the year…
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View a PDF of the proposed legislation