Archives: Tax and Retirement

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Trump and Treasury Turn to Tax Reform

Legislative Activity How About That Hearing?: The Tax Reform Saga Continues After speculation by some that the House Ways and  Means Committee would hold the first hearing on its tax reform proposal this week, no such hearing was ultimately scheduled. That said, tax-writers are continuing to work to push forward their tax reform efforts. Our … Continue Reading

Brady’s BAT Battle; Trump Takes on Tax Reform

Legislative Activity Brady May Be Open to “Significant Modifications” on BAT as the Trump Administration Takes More Active Role in the Tax Reform Debate As the health care reform debate continues to unfold, congressional tax-writers are preparing to move forward swiftly with their tax reform efforts. Though House Ways and Means Committee Chairman Kevin Brady (R-TX) has … Continue Reading

It’s Tax Reform’s Turn

Legislative Activity Time for Tax Reform? With the GOP’s healthcare reform efforts having fallen apart, Members and staff from the House Ways and Means Committee will likely now turn their full time and attention to another key priority: tax reform. See our analysis of the current landscape here. This Week’s Hearings: On Tuesday, March 28, the House … Continue Reading

First Quarter Tax Reform Update

Legislative Activity The House With the 115th Congress entering month three, tax reform continues to be a focal point of the political debate in Washington. Intent to move forward with their tax reform “Blueprint” released in June 2016, Speaker Paul Ryan (R-WI), House Ways and Means Committee Chairman Kevin Brady (R-TX), and other tax-writers have … Continue Reading

Tax Reform Talks Continue as “Tax Dodging” in Democrats’ Crosshairs

Legislative Activity Corporate “Tax Dodging” in Spotlight as Tax Reform Timing in Question It is becoming increasingly clear that the timing of tax reform is largely tied to what happens with the House Blueprint. Assuming the proposal moves forward largely as is, the House is aiming to wrap up debate and successfully enact tax reform by … Continue Reading

The Prospects for Tax Reform in Trump Town

Legislative Activity The Prospects for Tax Reform in Trump Town With the 115th Congress nearing the end of month two, tax reform continues to be a focal point of the political debate in Washington. Intent to move forward with their tax reform “Blueprint” released in June 2016, Speaker Paul Ryan (R-WI), House Ways and Means … Continue Reading

More on Timing of Tax Reform as Trump Teases Tax Plan; Tax-Writing Committees Get Organized

Legislative Activity Time for a Trump Tax Plan as Timing on Blueprint Shifts Last week, various high-profile members of the House Ways and Means Committee were about town publicizing the House’s tax reform “Blueprint,” which would overhaul the U.S. corporate, individual, and international tax systems, as well as make significant reforms to the Internal Revenue … Continue Reading

Senate Begins to Focus on Tax Reform, Set to Take Up Mnuchin Nomination

Legislative Activity Senate Starts Talking Tax Reform, Advances Mnuchin Nomination As House tax-writers continue to move forward with their tax reform “Blueprint” – and work to address a myriad of concerns that have arisen (i.e., border adjustability) – various Senate Finance Committee Members last week began to lay the groundwork for their approach to tax … Continue Reading

GOP Leaders Discuss Timing of Tax Reform; Clarity May Be Needed on New Treasury Regs

Legislative Activity GOP Sets Out Timeline for Tax Reform Last week, Republican lawmakers traveled to Philadelphia for a retreat to discuss their priorities for the 115th Congress.  Among the top priorities for the GOP: tax reform. According to House Speaker Paul Ryan (R-WI), the House will turn its full time and attention to tax reform … Continue Reading

Questions Over GOP Tax Reform Proposal Emerge; Acting Treasury Secretary Named

Legislative Activity Border Adjustability in the Spotlight Though healthcare and repealing and replacing the Affordable Care Act have thus far been the primary focus of the tax-writing committees this Congress, policymakers are still continuing to move forward with tax reform. Among the proposals in the House Republicans’ tax reform “Blueprint” receiving the most attention in recent weeks … Continue Reading

Tax-Writers Take-Off on Tax Reform; IRS Issues Post-Inversion Regs Amidst New Taxpayer Advocate Report

Legislative Activity Ways and Means, Finance Committees Welcome New Members Kicking off the 115th Congress, both the House Ways and Means and Senate Finance Committees have announced their updated rosters. Joining Chairman Kevin Brady (R-TX) on the House Ways and Means Committee will be Representatives Dave Schweikert (R-AZ), Jackie Walorski (R-IN), and Carlos Curbelo (R-FL). … Continue Reading

New Ways and Means Ranking Member Selected; Mnuchin Nominated to Serve as Treasury Secretary

Legislative Activity Representative Richard Neal to Serve as Ways and Means Ranking Member In the wake of current Ways and Means Committee Ranking Member Sandy Levin’s (D-MI) decision to step down from chief Democrat of the House Ways and Means Committee, Representatives Richard Neal (D-MA) and Xavier Becerra (D-CA) both threw their names in the … Continue Reading

Tax-Writers Focused on 2017 Efforts; Treasury, IRS Work to Wrap-Up Outstanding Work as BEPS Implementation Continues

Legislative Activity Brady and Hatch Look Ahead to 2017 Tax Policy Priorities As the Trump Administration continues the transition process and prepares to work with a Republican-controlled Congress in 2017, House Ways and Means Committee Chairman Kevin Brady (R-TX) is continuing to argue that tax reform is likely to get done next year and will be designed to be … Continue Reading

Tax-Writers Focused, Looking Toward 2017 for Large-Scale Reforms; Treasury Set to Move on Section 385 Regulations

Legislative Activity Lawmakers Look at Specific Tax Policy Priorities with an Eye Toward Tax Reform in 2017 With the House last week having passed various targeted pieces of tax legislation, it is clear that much of the rest of this Congress will be devoted to more narrow asks, though continued efforts in anticipation of tax … Continue Reading

Many Tax Policy Priorities Remain as Retirement and Pension in Focus for Finance; Treasury Full Steam Ahead on Section 385

Legislative Activity Many Tax Policy Priorities Outstanding as Congress Looks to Home Stretch With Congress back in Washington for several weeks of work before adjourning in advance of the November Election, tax-writers have much work in store – though the lack of legislative days, coupled with the complex and divisive nature of some of the … Continue Reading

Tax Reform Efforts Continue; Section 385, BEPS Implementation Dominate Regulatory Agenda

Legislative Activity The Long March to Tax Reform Continues On June 24, House Ways and Means Committee Chairman Kevin Brady (R-TX) released the House GOP’s Task Force on Tax Reform’s long-awaited tax reform “Blueprint,” which lays out the GOP’s tax policy agenda for 2017. Specifically, and as we discuss in greater detail in our alert, … Continue Reading

Tax-Writers Gear Up to Release Proposals; Treasury Response to Concerns Over Section 385 Regs Unclear

Legislative Activity Coming Soon: The GOP’s Tax Reform “Blueprint” With House Republicans expected to roll out their comprehensive tax “blueprint” this month – and lawmakers set to leave Washington on Friday, June 24 – it is likely that we will see the proposal released this week. It is quite possible, however, that the final product may … Continue Reading

Congressional Tax Reform Efforts Carry On, as Section 385 and BEPS Issues in Focus for the Administration

Legislative Activity Tax Reform Discussions Persist, Proposals Due Out This Month House Ways and Means Committee Chairman Kevin Brady (R-TX) remains focused on efforts to overhaul the U.S. tax Code and is expected to release his tax reform “blueprint” this month. He recently stated that he anticipates continuing to concentrate efforts on the blueprint “through … Continue Reading

Tax-Writers Press on with Tax Reform Proposals; Treasury to Have “Intense” Comment Period on Section 385 Regulations

Legislative Activity As June Nears, Tax-Writers Press Forward with Tax Reform Proposals Following last week’s Senate Finance Committee hearing to discuss Chairman Orrin Hatch’s (R-UT) “corporate integration” proposal as relates to the pros and cons of a dividends paid deduction regime, this week, on Tuesday, May 24, the Committee will hold its second in a … Continue Reading

Tax-Writers Continue Examining Tax Reform Proposals as the Administration and Regulators Focus on International Issues

Legislative Activity Congressional Tax-Writers Press on With Tax Reform Proposals This week, the House Ways and Means Subcommittee on Tax Policy, chaired by Representative Charles Boustany (R-LA), will hold a hearing to examine Member proposals to improve the current U.S. tax system. This hearing is part of a series of hearings on tax reform and … Continue Reading

Senate Takes on Business Tax Reform; Treasury to Have “Intense Comment Period” for Inversion Regulations

Legislative Activity Senate to Consider Business Tax Reform Proposals Following multiple hearings on tax reform thus far this year in the House Ways and Means Committee, this week the Senate Finance Committee will hold a hearing on business tax reform. During the hearing, the difference between Republican and Democrat approaches to taxing corporate income, including … Continue Reading

Comprehensive Tax Proposal Expected by June; Inversions, CbyCR on Horizon for Regulators

Legislative Activity Tax –Writers Plan to Put Out Comprehensive Blueprint by June Last Friday, April 15 (i.e., Tax Day), House Ways and Means Committee Chairman Kevin Brady (R-TX) confirmed that the Tax Reform Task Force (set up earlier in the year by Speaker Paul Ryan (R-WI)) plans to release a comprehensive tax reform “blueprint” by … Continue Reading

Tax-Writers to Examine Tax Reform Proposals, May Move on Tax Extenders

Legislative Activity House Tax-Writers Continue Moving Forward with Work on Tax Reform This week, on Wednesday, April 13, the House Ways and Means Subcommittee on Tax Policy will hold a hearing to continue the Committee’s efforts to examine “fundamental tax reform proposals.” In March, Ways and Means Committee members examined legislative proposals related to cash-flow … Continue Reading

Tax-Writers Continue Debate on International Tax Reform, Inversions; Global Efforts on CbyCR Implementation Move Forward

Legislative Activity International Tax Reform v. Inversions Following up on Senate Finance Committee Chairman Orrin Hatch’s (R-UT) recent acknowledgment that his “corporate integration” proposal has been delayed, at least by “a few weeks,” it now appears that the House Ways and Means Committee may miss its self-imposed goal of March 31 by which to release … Continue Reading
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