Chuck Grassley: “2 weeks ago, Secretary Rubin responded by letter that he appreciated my efforts to inform him of the problems, and that…”

“2 weeks ago, Secretary Rubin responded by letter that he appreciated my efforts to inform him of the problems, and that he was reviewing the matter. Today, IRS Commissioner Margaret Milner Richardson announced that the IRS was suspending the 10 percent penalty for 6 months. The IRS had originally intended employers who had deposited $50,000 or more last year to begin to follow the new electronic funds rules by January 1, 1997. Now, though employers are still encouraged to comply, no penalty will be imposed for failure to change deposit methods until after July 1, 1997. Mr. President, though only a temporary reprieve, this is a victory for small business employers, and I am proud of my part. I welcome the efforts of Treasury and IRS to make a better second try at educating taxpayers. In my view, taxpayers are the consumers of the services provided by Treasury and the IRS. I think that good customer service sometimes includes a good second try. I am also enthusiastic about the potential for Electronic Funds Transfers or EFT.”