On Thursday, April 6, the Treasury Department and Internal Revenue Service (IRS) issued their long-term Strategic Operating Plan (SOP), outlining how the IRS intends to spend $79.4 billion in funding provided by the Inflation...more
Replacing Reed? Rep. Tom Reed (R-NY), a member of the House Ways and Means Committee, resigned from Congress last week. As of this writing, Republicans have not indicated when—or whether—they will fill the vacancy left by...more
COVID Relief Package in Flux. Tax provisions were not the only items missing from the omnibus last week. Congress had to remove COVID-19 relief funding from the $1.5 trillion “omnibus” appropriations package that passed both...more
TAX TIDBIT -
Race to Replace Brady: New Challenger. Rep. Jason Smith (R-MO) is the latest Republican seeking to replace the retiring House Ways and Means Committee ranking member and former chair, Kevin Brady (R-TX), as...more
On Feb. 8, House Ways and Means Committee Chair Richard Neal (D-MA) released text representing its portion of Democrats’ $1.9 trillion COVID-19 stimulus legislation, modeled after President Joe Biden’s American Rescue Plan....more
On Dec. 20, the House and Senate passed H.R. 133, The Consolidated Appropriations Act of 2021. The bill includes a $900 comprehensive package to provide COVID-19 relief to businesses and individuals, including a second round...more
This weekly newsletter outlines the latest developments in Washington, including major tax, small business and financial services developments in the negotiations on Phase Four legislation and regulatory guidance from various...more
What to Expect—the Next Economic Recovery Package -
Hear Ye, Here Ye! On Saturday, President Trump took executive action to defer payroll taxes, set up an assistance program for lost wages to supplement unemployment...more
This weekly newsletter outlines the latest developments in Washington, including major tax, small business and financial services developments in the negotiations on Phase Four legislation and regulatory guidance from various...more
On March 25, the Senate approved a $2 trillion stimulus package, the Coronavirus Aid, Relief, and Economic Security Act, to address the economic and health impacts of the COVID-19 pandemic. The bill now moves to the House for...more
Just past midnight on Dec. 17, lawmakers released an amendment to one of two spending bills released on Dec. 16—H.R. 1865—the Further Consolidated Appropriations Act of 2020. Most notably, the amendment included an extension...more
12/18/2019
/ Adjusted Gross Income ,
Affordable Care Act ,
Economic Growth ,
Excise Tax ,
Federal Budget ,
Federal Funding ,
Green Finance ,
Income Taxes ,
Legislative Agendas ,
Natural Disasters ,
Oil & Gas ,
Popular ,
Renewable Energy ,
Retirement Plan ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Extenders ,
Tax Relief
Well, they did it. Despite lingering resentment between Democrats and Republicans after the passage of the Tax Cuts and Jobs Act (P.L.115-97), Congress was able to pass tax legislation that was overwhelmingly supported by...more
7/2/2019
/ Appropriations Bill ,
Final Rules ,
Income Taxes ,
IRS ,
Legislative Agendas ,
Opportunity Zones ,
Pending Legislation ,
SALT ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Tax Relief ,
Taxpayer First Act of 2019 (TFA) ,
Trump Administration ,
Ways and Means Committee