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Tax News & Views

Capitol Hill briefing.

Tax News & Views, published by the Deloitte Tax LLP Tax Policy Group in Washington, DC, provides a compact, reader-friendly perspective on the latest tax developments coming out of Congress affecting businesses and high-wealth individuals.

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Recent editions appear below; for older issues, please email a request to ustaxnews@deloitte.com.

April 29, 2016

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April 29, 2016

Finance Committee mulls business tax reform options: Lawmakers and witnesses at a Senate Finance Committee hearing on business tax reform generally agreed that the US corporate tax rate is uncompetitive and needs to be reduced, that the US needs to move toward a territorial system for taxing foreign-source income of domestic multinationals, and that the tax rules – particularly as they apply to small businesses – need to be simplified; but they did not appear to reach consensus on how to make that happen.

Wyden discussion draft calls for revamping depreciation rules: Senate Finance Committee ranking Democrat Ron Wyden unveiled draft legislation that would replace current tax depreciation rules with a “pooling” system for most tangible personal property.

House taxwriter proposes tax-rate equivalency for passthroughs: House Ways and Means Committee Republican Vern Buchanan introduced legislation aimed at ensuring parity between tax rates for corporations and those for passthrough businesses.

Ways and Means OKs bills on taxpayer ID theft, information disclosure: The House Ways and Means Committee approved a handful of bills aimed at preventing taxpayer identity theft and refund fraud, limiting the government’s ability to require tax-exempt organizations to disclose the names of certain donors on their annual returns, and expanding the IRS’s ability to share information with law enforcement officials to track down missing or exploited children.

Archive

April 22, 2016
Hatch eyes June release of corporate integration draft

April 15, 2016
Energy tax extender talks collapse, Senate set to approve ‘clean’ FAA tax title

April 8, 2016
Treasury issues anti-inversion guidance

March 25, 2016
Short-term FAA extension heads to White House

March 18, 2016
House GOP budget and taxwriters advance budget bills, floor action uncertain

March 11, 2016
GOP discord keeps fiscal 2017 budget process in flux

March 4, 2016
Hatch takes the long view on release of corporate integration proposal

February 26, 2016
Boustany eyes March release of international tax reform legislation

February 12, 2016
GOP shows little appetite for Obama’s final budget proposal

February 9, 2016 - Special Edition
White House releases fiscal year 2017 budget proposal

February 5, 2016
White House to propose $10-per-barrel oil tax in FY 2017 budget package

January 29, 2016
Senate taxwriters, White House focus on retirement savings

January 22, 2016
Hatch planning corporate integration discussion draft

January 15, 2016
Taxwriters elaborate on international tax reform agenda for 2016

January 8, 2016
Wide-ranging PPACA repeal bill heads to White House; Obama promises veto

January 4, 2016 - Special Edition
IRS extends PPACA information reporting deadlines

December 18, 2015
Congress approves, president signs combined extenders, appropriations package

December 15, 2015 - Special Edition
Negotiators unveil massive extenders package including some permanent business, individual provisions

December 11, 2015
Lawmakers buy more time to finish omnibus funding bill, extenders

November 20, 2015
Fate of tax extenders remains uncertain as lawmakers continue deliberations

November 13, 2015
Senate taxwriters weigh in on international tax reform, extenders

November 6, 2015
Kevin Brady tapped by House Republicans to lead Ways and Means Committee

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