In Baltimore, business owner Gloria Berthold hasn't allowed her five employees to store customer data on laptops since she founded TargetGov in 1997 to help companies win government contracts.
At first, she worried she was being too restrictive. But lately she's been reading stories about workers losing laptops to thieves or accidents while on the road. "I just don't want to lose sleep worrying about who has access to laptops," she says.
As TargetGov's offerings grow more sophisticated, so do its information-security needs and costs.
Berthold's most valuable asset is a database of federal, state and local government employees who take bids on contracts for computers, office furniture and other goods. She sells subscriptions to the database, which customers access online through TargetGov's website.
Two years ago, Berthold spent $50,000 rebuilding the site so it would be more secure. The information is encrypted, or scrambled, so unauthorized users can't read it in the unlikely event they hack into the site.
The database is now stored at a remote computer server instead of at her office. And all customer records are now stored on a separate computer server, also away from her office...."
Click here for the full story
Monday, July 24, 2006
Federal Fiscal Year End = Use It or Lose It
We have now entered the fourth quarter of the federal fiscal year. Are you taking advantage of this timing to bring in summertime business and sow the seeds for next year's (which starts October 1) business?
The federal government spends over 50 percent of the year’s budget between July 1 and September 30 because of “use it or lose it” requirements. This means that government spending is at its yearly high right now and vendors can take advantage of this spending by knowing who is placing the orders.
It is your job as an informed vendor to research the budgets and know what the agencies are planning to spend. In addition, it is important to market your company to the appropriate people within each individual agency so that they know what you offer.
When is the fiscal year end for federal government agencies?
For Full Story Click Here: http://www.targetgov.com/Content.asp?id=2325
The federal government spends over 50 percent of the year’s budget between July 1 and September 30 because of “use it or lose it” requirements. This means that government spending is at its yearly high right now and vendors can take advantage of this spending by knowing who is placing the orders.
It is your job as an informed vendor to research the budgets and know what the agencies are planning to spend. In addition, it is important to market your company to the appropriate people within each individual agency so that they know what you offer.
When is the fiscal year end for federal government agencies?
For Full Story Click Here: http://www.targetgov.com/Content.asp?id=2325
BRAC Teams Forming NOW
Let us know if you would like to be considered for the teams we are putting together to address the local and nationwide Base Re-Alignment and Closure (BRAC) related contracting opportunities.
These are wide-ranging, long-term opportunities related to the specific needs regarding the mandated base closures such as construction, information technology, staffing, moving processes and more.
There is no fee or long-term commitment for this first step to let us know that you are interested.
Click here to send us an email and please mention BRAC Teams in the Comments field. We look forward to working with you!
These are wide-ranging, long-term opportunities related to the specific needs regarding the mandated base closures such as construction, information technology, staffing, moving processes and more.
There is no fee or long-term commitment for this first step to let us know that you are interested.
Click here to send us an email and please mention BRAC Teams in the Comments field. We look forward to working with you!
New SBA Administrator
The US Small Business Administration (SBA) has a new Administrator.
Steve Preston, was confirmed by the Senate in late June, and was formally sworn in last week. Preston is the 22nd Administrator since SBA was first created in 1953. Previously, Preston served as Executive Vice President at The ServiceMaster Company, a major franchising operation. Preston has not offered a lot of details about his vision for SBA, but we hope that he will continue the agency’s strong support for America’s entrepreneurs.
To view a Small Business Administration press release about Preston’s swearing-in, click here.
Steve Preston, was confirmed by the Senate in late June, and was formally sworn in last week. Preston is the 22nd Administrator since SBA was first created in 1953. Previously, Preston served as Executive Vice President at The ServiceMaster Company, a major franchising operation. Preston has not offered a lot of details about his vision for SBA, but we hope that he will continue the agency’s strong support for America’s entrepreneurs.
To view a Small Business Administration press release about Preston’s swearing-in, click here.
SBA News: RFQ For Small Business
SBA News: RFQ Seeking Small Business Researchers
The Office of Advocacy seeks small business researchers, or researchers who want to become small businesses, to perform economic research via a request for quotations RFQ). The topics are chosen because they are researchable, show the status or role of small businesses, can be a springboard for further research, and can affect public policy.
Proposals on the following topics are due July 26, 2006:
• Owner demographics,
• Human capital and business ownership by demographic,
• The impact of HUBZone–qualified areas on small business development and job creation,
• Research using the Survey of Small Business Finances,
•Small business research using large databases,
• Graduate student research.
For More Information Click Here: http://www.targetgov.com/Content.asp?id=2327
The Office of Advocacy seeks small business researchers, or researchers who want to become small businesses, to perform economic research via a request for quotations RFQ). The topics are chosen because they are researchable, show the status or role of small businesses, can be a springboard for further research, and can affect public policy.
Proposals on the following topics are due July 26, 2006:
• Owner demographics,
• Human capital and business ownership by demographic,
• The impact of HUBZone–qualified areas on small business development and job creation,
• Research using the Survey of Small Business Finances,
•Small business research using large databases,
• Graduate student research.
For More Information Click Here: http://www.targetgov.com/Content.asp?id=2327
Guidance for Entrepreneurs on Selling a Business
For most entrepreneurs, deciding whether and when to sell their business is one of the toughest calls. To help them evaluate their options, Kauffman eVenturing features a new collection of articles on successful selling strategies.
This new collection, written by financial experts and several entrepreneurs who have successfully sold companies, offers business owners practical guidance on timing and other difficult issues, such as deciding who to sell your company to, whether to seek a buyer yourself or use an investment banker, how to get the best price once you do decide to sell and how to tell your employees.
Click here to read this month's collection on Kauffman eVenturing. This story is © 2006 The Public Forum Institute. Content from this newsletter may be reproduced for non-commercial purposes with proper attribution to the National Dialogue on Entrepreneurship
If you would like a personal contact to guide you through the buying or selling process, call TargetGov at 1-866-579-1346 and we will help you get started.
This new collection, written by financial experts and several entrepreneurs who have successfully sold companies, offers business owners practical guidance on timing and other difficult issues, such as deciding who to sell your company to, whether to seek a buyer yourself or use an investment banker, how to get the best price once you do decide to sell and how to tell your employees.
Click here to read this month's collection on Kauffman eVenturing. This story is © 2006 The Public Forum Institute. Content from this newsletter may be reproduced for non-commercial purposes with proper attribution to the National Dialogue on Entrepreneurship
If you would like a personal contact to guide you through the buying or selling process, call TargetGov at 1-866-579-1346 and we will help you get started.
Bundling and Consolidation Course now LIVE on SBLC
The US Air Force Small Business Learning Center's newest module, Bundling and Consolidation, has launched!!
"...This module provides valuable training for acquisition professionals as well as small business owners to become familiar with the definitions, rules and procedures from market research stage up through contract file documentation, when consolidation and/or bundling may be involved.
We are very excited about the presentation style of this module as the training is provided in an informative, yet entertaining format. We invite you to enjoy this course, and please share with your field specialists and other customers. Acquisition teams should be encouraged to take the course when first discussing requirements. As always, your feedback on this and all of the SBLC courses is greatly appreciated..."
To view the course, click here and select Bundling and Consolidation from the Master List, click on the Tutorial Launch button and enjoy
"...This module provides valuable training for acquisition professionals as well as small business owners to become familiar with the definitions, rules and procedures from market research stage up through contract file documentation, when consolidation and/or bundling may be involved.
We are very excited about the presentation style of this module as the training is provided in an informative, yet entertaining format. We invite you to enjoy this course, and please share with your field specialists and other customers. Acquisition teams should be encouraged to take the course when first discussing requirements. As always, your feedback on this and all of the SBLC courses is greatly appreciated..."
To view the course, click here and select Bundling and Consolidation from the Master List, click on the Tutorial Launch button and enjoy
Navigating the World of Teaming Agreements
Teaming agreements, while not new, have emerged again as a useful way for companies to pool resources (and share costs) when bidding on increasingly complex contracts, particularly federal government contracts.
Teaming agreements can take many forms, the most common of which is the prime/subcontractor relationship. One party acts as the prime contractor, maintaining the contractual relationship with, for example, a Government customer and assuming all of the associated contractual liability. The other party acts as a subcontractor, maintaining a contractual relationship only with the prime. Typically teaming agreements represent a general framework in which the parties agree to pursue certain contracts, leaving most specific details to be negotiated upon an actual contract award to the party acting as the prime contractor.
Click for Full Story: http://www.targetgov.com/Content.asp?id=2319
Teaming agreements can take many forms, the most common of which is the prime/subcontractor relationship. One party acts as the prime contractor, maintaining the contractual relationship with, for example, a Government customer and assuming all of the associated contractual liability. The other party acts as a subcontractor, maintaining a contractual relationship only with the prime. Typically teaming agreements represent a general framework in which the parties agree to pursue certain contracts, leaving most specific details to be negotiated upon an actual contract award to the party acting as the prime contractor.
Click for Full Story: http://www.targetgov.com/Content.asp?id=2319
Small Businesses Win $79.6 Billion In Federal $'s
Small Businesses Garner $79.6 Billion In Federal Contracts in FY 2005
For the first time in history, small businesses received a record-breaking $79.6 billion in federal prime contracts, $10 billion more than the year before.The contracts represented 25.4 percent of federal prime contracting dollars in FY 2005, surpassing the overall government statutory goal of 23 percent for the third consecutive year.
The small business contracting data was reported by the government’s Federal Procurement Data –Next Generation (FPDS-NG) system, the only official data reporting system for federal procurement data. The data show that the federal government purchased $314 billion worth of goods and services from businesses large and small.
“This is excellent news for small businesses doing business with the federal government,” said previous SBA Administrator Hector Barreto. “For the third year in a row, the federal government has met or exceeded its small business contracting goal.
The Department of Defense, the leading purchaser of goods and services, awarded $53.8 billion of its contracts, or about 24.6 percent, to small businesses.
For the full report, visit http://www.sba.gov/GC/goals/SmallBusinessGoalingReport_2005.pdf.
For supplemental information on the data, visit http://www.sba.gov/GC/goals/DisclaimerstotheFY2005SmallBusinessGoalingReport.pdf.
For the first time in history, small businesses received a record-breaking $79.6 billion in federal prime contracts, $10 billion more than the year before.The contracts represented 25.4 percent of federal prime contracting dollars in FY 2005, surpassing the overall government statutory goal of 23 percent for the third consecutive year.
The small business contracting data was reported by the government’s Federal Procurement Data –Next Generation (FPDS-NG) system, the only official data reporting system for federal procurement data. The data show that the federal government purchased $314 billion worth of goods and services from businesses large and small.
“This is excellent news for small businesses doing business with the federal government,” said previous SBA Administrator Hector Barreto. “For the third year in a row, the federal government has met or exceeded its small business contracting goal.
The Department of Defense, the leading purchaser of goods and services, awarded $53.8 billion of its contracts, or about 24.6 percent, to small businesses.
For the full report, visit http://www.sba.gov/GC/goals/SmallBusinessGoalingReport_2005.pdf.
For supplemental information on the data, visit http://www.sba.gov/GC/goals/DisclaimerstotheFY2005SmallBusinessGoalingReport.pdf.
Procurement Spending up $175 Billion Since 2000
Procurement spending grew 86 percent from 2000 to 2005, but management problems have resulted in significant levels of waste and abuse, according to a report released by Democratic lawmakers last week.
The report, titled "Dollars, Not Sense," was prepared by Democrats on the House Government Reform Committee, and was based on more than 500 reports by the Government Accountability Office, agency inspectors general and the Defense Contract Audit Agency, as well as interviews and data from a government procurement database.
Investigators found that procurement spending has increased significantly under the Bush administration, growing by 86 percent from $203 billion in fiscal 2000 to $377.5 billion in fiscal 2005. The present spending level represents a record 40 cents on every dollar of federal discretionary spending, according to the report.
Click here for the full story.
The report, titled "Dollars, Not Sense," was prepared by Democrats on the House Government Reform Committee, and was based on more than 500 reports by the Government Accountability Office, agency inspectors general and the Defense Contract Audit Agency, as well as interviews and data from a government procurement database.
Investigators found that procurement spending has increased significantly under the Bush administration, growing by 86 percent from $203 billion in fiscal 2000 to $377.5 billion in fiscal 2005. The present spending level represents a record 40 cents on every dollar of federal discretionary spending, according to the report.
Click here for the full story.
Tuesday, June 27, 2006
SBA seeks comments on proposed women-owned business program
The Small Business Administration is seeking public comment on a proposal to provide contracting preference to women-owned small businesses through a set-aside program similar to those in place for other disadvantaged business sectors. The proposed Women-Owned Small Business Federal Contract Assistance Program, which was the subject of a successful lawsuit by the U.S. Women's Chamber of Commerce relating to implementation delays, was detailed in a Thursday Federal Register notice.
Full Story:http://www.targetgov.com/Content.asp?id=2312
Full Story:http://www.targetgov.com/Content.asp?id=2312
GSA solicits your input on IT contracts worth $65 billion
The General Services Administration last Thursday released a draft request for proposals for its long-delayed Alliant and Alliant Small Business contracts, two governmentwide information technology vehicles together valued at $65 billion over 10 years.
The draft RFP is the second to be released for this work; GSA first announced the two Alliant contracts in early 2004 and issued a draft proposal in March 2005. The procurement dragged on through delays and leadership changes, however, and the agency decided to reassess, leading to a February 2006 announcement of new plans for the contract.
Under the revised schedule, the public has until June 30 to submit comments on the draft RFP, and a final version will be published in October for contract award by summer 2007, according to GSA announcements. The draft RFPs, along with other documents for the contract, are posted on the FedBizOpps Web site, with additional information on GSA sites dedicated to the main contract and small business component.
Click here for the full story
The draft RFP is the second to be released for this work; GSA first announced the two Alliant contracts in early 2004 and issued a draft proposal in March 2005. The procurement dragged on through delays and leadership changes, however, and the agency decided to reassess, leading to a February 2006 announcement of new plans for the contract.
Under the revised schedule, the public has until June 30 to submit comments on the draft RFP, and a final version will be published in October for contract award by summer 2007, according to GSA announcements. The draft RFPs, along with other documents for the contract, are posted on the FedBizOpps Web site, with additional information on GSA sites dedicated to the main contract and small business component.
Click here for the full story
IMPORTANT DHS SURVEY: Has Your Company Held or Bid on Contracts from the Department of Homeland Security?
Is your firm a small business that has held contracts or has bid on contracts with the Department of Homeland Security? If so, make your voice count here.
The House Committee on Homeland Security has requested that we send out a survey to obtain your views on the ability of small and minority businesses in obtaining homeland security government contracts through the Department of Homeland Security. The goal of this survey is to gain insight into your company's experiences with and perspectives about the Department of Homeland Security's contracting process, ranging from development and issuance of Request for Proposals (RFPs), responses to RFPs, success in securing contracts, the responsiveness of the bid protest process and difficulties faced in the payment process.
This survey will take less than 30 minutes of your time but will provide valuable information on the DHS contracting process. Individual responses will be confidential, and no identifying information will be released or revealed in any manner. Responses will be used to compile a statistical overview of issues covered in the questionnaire. The statistical compilation of the data collected may be presented to the general public for informational purposes or to Members of Congress for potential legislative action. DEADLINE: June 23rd.
Make your voice count here! Or contact:
Zahra Buck, J.D.
Professional Staff
House Homeland Security Committee
Minority Staff
H2-117 Ford House Office Building
Washington, DC 20515
The House Committee on Homeland Security has requested that we send out a survey to obtain your views on the ability of small and minority businesses in obtaining homeland security government contracts through the Department of Homeland Security. The goal of this survey is to gain insight into your company's experiences with and perspectives about the Department of Homeland Security's contracting process, ranging from development and issuance of Request for Proposals (RFPs), responses to RFPs, success in securing contracts, the responsiveness of the bid protest process and difficulties faced in the payment process.
This survey will take less than 30 minutes of your time but will provide valuable information on the DHS contracting process. Individual responses will be confidential, and no identifying information will be released or revealed in any manner. Responses will be used to compile a statistical overview of issues covered in the questionnaire. The statistical compilation of the data collected may be presented to the general public for informational purposes or to Members of Congress for potential legislative action. DEADLINE: June 23rd.
Make your voice count here! Or contact:
Zahra Buck, J.D.
Professional Staff
House Homeland Security Committee
Minority Staff
H2-117 Ford House Office Building
Washington, DC 20515
Small Business Contracts Plunge to Record Low
The latest statistics on Federal small business contracting show the lowest participation by small businesses in recent history. According to current government figures, small businesses received a meager 17% of the total value of Federal contracts during fiscal year 2005. This number represents the lowest level of Federal contracts that have been awarded to small businesses in the past 20 years.
The Small Business Act of 1953 requires that 23% of Federal contracts go to small businesses. Last year, the SBA reported that 23.09% of contracts were awarded to small firms during FY 2004.
Full Story: http://www.targetgov.com/Content.asp?id=2313
The Small Business Act of 1953 requires that 23% of Federal contracts go to small businesses. Last year, the SBA reported that 23.09% of contracts were awarded to small firms during FY 2004.
Full Story: http://www.targetgov.com/Content.asp?id=2313
SBA Closes Veterans Assistance Office
Without consultation or notification, the Bush Administration has closed its office at the Small Business Administration (SBA) solely dedicated to helping veteran-owned small businesses gain access to federal contracts. The Administration has also informed the Veterans Advisory Committee, another group dedicated to helping veteran small business owners, that their charter will not be extended and instead will expire this September. These unprecedented moves hurt America's veteran entrepreneurs and raise serious questions about the Administration's commitment to comply with federal law.
Budget cuts and Barreto's resignation leave SBA toothless. One small- business advocate is sounding the alarm as best he can that companies should prepare for the possible closure of the Small Business Administration. It's just a matter of time, said Lloyd Chapman, president of the American Small Business League. President Bush and the Republican-controlled Congress want to shut SBA's doors for good, he said.
Full Story:http://www.targetgov.com/Content.asp?id=2313
Budget cuts and Barreto's resignation leave SBA toothless. One small- business advocate is sounding the alarm as best he can that companies should prepare for the possible closure of the Small Business Administration. It's just a matter of time, said Lloyd Chapman, president of the American Small Business League. President Bush and the Republican-controlled Congress want to shut SBA's doors for good, he said.
Full Story:http://www.targetgov.com/Content.asp?id=2313
Web Site Governance Hotly Contested In Many Agencies
Who should be responsible for the content on a federal agency’s Web site—the agency’s public affairs office, CIO office or some other oversight body? Or should the program managers actually control the material?
This is the issue that many federal agencies are now grappling with, according to two researchers at George Mason University.
“As agency [W]eb sites become the most public agency presence for most citizens, the approval process for content [within these agencies] appears to be increasingly contested,” argued Julianne Mahler and Priscilla Regan of GMU’s Department of Public and International Affairs. Professor Regan is currently on leave from GMU, serving as a program director at the National Science Foundation. The two researchers studied how agencies manage their sites. They presented their findings at the International Conference on Digital Government Research, held recently in San Diego.
Full Story: http://www.targetgov.com/Content.asp?id=2314
This is the issue that many federal agencies are now grappling with, according to two researchers at George Mason University.
“As agency [W]eb sites become the most public agency presence for most citizens, the approval process for content [within these agencies] appears to be increasingly contested,” argued Julianne Mahler and Priscilla Regan of GMU’s Department of Public and International Affairs. Professor Regan is currently on leave from GMU, serving as a program director at the National Science Foundation. The two researchers studied how agencies manage their sites. They presented their findings at the International Conference on Digital Government Research, held recently in San Diego.
Full Story: http://www.targetgov.com/Content.asp?id=2314
More Companies Watching E-mail
By LARRY FIORINO
Special to The Daily Record
Forrester Research recently released a comprehensive survey of 294 U.S. companies with more than 1,000 employees concerning e-mail usage in their corporate environments.
During the last year, almost 33 percent of the companies have fired an employee for inappropriate usage of corporate e-mail, and over half the companies have disciplined an employee for the same types of infringements.
Currently, 38 percent of companies surveyed employ staff to analyze or read outgoing messages. This statistic may make many employees bristle, if they happen to be using corporate e-mail services for personal reasons. However, the main reason behind this trend is a bit more justifiable when companies were asked why they were concerned about outgoing employee e-mail.
Full Story: http://www.targetgov.com/Content.asp?id=2315
Special to The Daily Record
Forrester Research recently released a comprehensive survey of 294 U.S. companies with more than 1,000 employees concerning e-mail usage in their corporate environments.
During the last year, almost 33 percent of the companies have fired an employee for inappropriate usage of corporate e-mail, and over half the companies have disciplined an employee for the same types of infringements.
Currently, 38 percent of companies surveyed employ staff to analyze or read outgoing messages. This statistic may make many employees bristle, if they happen to be using corporate e-mail services for personal reasons. However, the main reason behind this trend is a bit more justifiable when companies were asked why they were concerned about outgoing employee e-mail.
Full Story: http://www.targetgov.com/Content.asp?id=2315
Negotiation Strategies for Entrepreneurs
Negotiation skills – an increasingly important part of virtually every aspect of business and life – are especially valuable to entrepreneurs engaged in growing their companies.
This month, Kauffman eVenturing features new articles to help emerging business owners become better negotiators in their daily and longer term business dealings. The articles include “Negotiation for Mutual Gain” by William Ury, distinguished global expert and co-founder of Harvard Law School’s program on negotiation. Ury explains how to enable both sides in a negotiation to gain by expanding (rather than dividing) the economic pie.
Click here to read this month’s collection on Kauffman eVenturing.
This month, Kauffman eVenturing features new articles to help emerging business owners become better negotiators in their daily and longer term business dealings. The articles include “Negotiation for Mutual Gain” by William Ury, distinguished global expert and co-founder of Harvard Law School’s program on negotiation. Ury explains how to enable both sides in a negotiation to gain by expanding (rather than dividing) the economic pie.
Click here to read this month’s collection on Kauffman eVenturing.
2006 Congressional Procurement Conference
Monday, June 12, 2006
The Procurement Conference will highlight the many opportunities that exist in the private and public sectors, at the federal, state & local levels. Special sessions will be devoted to the many new programs geared towards helping small/mid-size; women; and minority businesses to succeed in winning procurement contracts. Opportunities of referrals to organization with programs that would assist you getting the services you need to develop and grow.
The annual Congressional Procurement Conference & Expo, presented by the Montgomery County Chamber of Commerce, is intended to help small, mid-sized, women and minority businesses to get a piece of the procurement pie.
Speakers include: Gloria Berthold: Government Business Development; Herbert Jordon: Minority Business Opportunities; Lockheed Martin, Ft Deitrick, GSA, Montgomery County, Clark Construction and many more!
More Information:http://www.targetgov.com/Content.asp?id=2305
The Procurement Conference will highlight the many opportunities that exist in the private and public sectors, at the federal, state & local levels. Special sessions will be devoted to the many new programs geared towards helping small/mid-size; women; and minority businesses to succeed in winning procurement contracts. Opportunities of referrals to organization with programs that would assist you getting the services you need to develop and grow.
The annual Congressional Procurement Conference & Expo, presented by the Montgomery County Chamber of Commerce, is intended to help small, mid-sized, women and minority businesses to get a piece of the procurement pie.
Speakers include: Gloria Berthold: Government Business Development; Herbert Jordon: Minority Business Opportunities; Lockheed Martin, Ft Deitrick, GSA, Montgomery County, Clark Construction and many more!
More Information:http://www.targetgov.com/Content.asp?id=2305
Tax Bill Contains Tax Withholding On Payments To Contractors
Inserted into the massive tax bill passed in May, the Tax Increase Prevention and Reconciliation Act of 2005 (H.R. 4297) signed by President Bush, is a new requirement mandating a 3% tax withholding on payments to contractors for goods and services provided to federal, state, and local governments. This new requirement could be potentially devastating to small federal contractors.
The provision does the following: requires tax withholdings at a rate of 3% on payments for products and services made by the federal government, as well as State and local governments with contracting expenditures of $100 million or more; imposes burdensome information reporting requirements on payments that are subject to the withholding; does not apply to payments for government employee wages, interest, real property, tax-exempt entities, foreign governments, classified contracts, and intra-governmental payments. The provision applies to payments starting in 2011.
The impetus for this provision came from five recommendations issued in Treasury’s Bluebook that was released with the President’s budget in February addressing the Tax Gap. The Treasury estimates this new requirement will result in raising $225 million in the next four years for the U.S. Treasury. WIPP is getting involved with a coalition headed up by the U.S. Chamber of Commerce to address this provision. WIPP will continue to keep you informed of this issue.
The provision does the following: requires tax withholdings at a rate of 3% on payments for products and services made by the federal government, as well as State and local governments with contracting expenditures of $100 million or more; imposes burdensome information reporting requirements on payments that are subject to the withholding; does not apply to payments for government employee wages, interest, real property, tax-exempt entities, foreign governments, classified contracts, and intra-governmental payments. The provision applies to payments starting in 2011.
The impetus for this provision came from five recommendations issued in Treasury’s Bluebook that was released with the President’s budget in February addressing the Tax Gap. The Treasury estimates this new requirement will result in raising $225 million in the next four years for the U.S. Treasury. WIPP is getting involved with a coalition headed up by the U.S. Chamber of Commerce to address this provision. WIPP will continue to keep you informed of this issue.
Subscribe to:
Posts (Atom)