House Ways and Means Committee Chairman Dave Camp (R-Michigan) this week introduced a draft of the most comprehensive reform of the Internal Revenue Code in decades.
The key principles in the draft are:
Yesterday, House Ways and Means Committee Chairman Dave Camp (R-Michigan) unveiled his comprehensive tax reform proposal. Released as draft legislation, the Camp proposal calls for the most fundamental reform of the tax code...more
House Ways and Means Committee Chairman Dave Camp (R-MI) is on the verge of releasing a detailed proposal for comprehensive tax reform.
The Camp proposal, which may be released in the form of a discussion draft and...more
A tax reform proposal released by the Senate Finance Committee would have a major impact on the real estate industry, according to comments submitted to the committee by a number of industry groups. If enacted in their...more
CAYMAN ISLANDS AND US SIGN FATCA AGREEMENT -
The United States and the Cayman Islands have signed a so-called Model 1 intergovernmental agreement.
The IGA is the first step in bring the Cayman fund industry...more
The tax deduction for advertising expenses has clearly become a target for Congressional tax reformers. Under current law, advertising costs are fully deductible as an ordinary business expense. Both the House and Senate Tax...more
Although the chairmen of the tax writing committees, Representative Dave Camp (R-Michigan) and Senator Max Baucus (D-Montana), are thoroughly committed to enacting comprehensive tax reform and are devoting the considerable...more
Taxes will be a major part of the budget discussions now under way in Washington. Is this an opening for comprehensive reform?
Earlier this year, the House and Senate passed very different proposals for the federal...more
The next two days in Congress will be characterized by fast-moving developments on the government shutdown/debt ceiling issues.
As of this morning the situation is as follows...more