Opening Statement of Committee the Hon. As Chairman of the Tax Subcommittee, I know that this issue is perceived to be a very dry topic. But it is a matter of life and death for thousands of small businesses that sell some product associated with their services.
Medical professionals have no problem paying taxes on what they collect on their billings.
This is another illustration of the IRS trying to collect taxes early. In 1998, I authored legislation to give physicians and dentists the choice to remain with the cash method of accounting. It was reintroduced as HR 1004 in this Congress. I ask unanimous consent, Mr. Chairman, to include in the hearing record the written statement of the American Dental Association on this issue. Over the past few years, I have learned that this issue impacts more in the small business community, such as landscapers, building contractors, and plumbers.