One of the more significant issues that taxpayers and tax practitioners have faced in recent months is the Tax Cuts and Jobs Act’s (TCJA) amendment to Section 174, requiring capitalization of previously deductible R&D and...more
LEGISLATIVE LOWDOWN - Congress Advances Towards CR as Deadline Approaches. Yesterday, Senate Democrats proposed legislation to fund the federal government through Dec. 16 with the use of a continuing resolution (CR). The...more
Treasury Secretary Janet Yellen testified before the Senate Finance Committee and the House Ways and Means Committee this week to discuss the Biden administration's fiscal year 2023 budget proposal for the Treasury...more
Congressional Tax Staffers Outline Agenda. Several senior staffers on the House Ways and Means Committee and the Senate Finance Committee—Andrew Grossman, Courtney Connell, Derek Theurer and Tiffany Smith—participated in a...more
The House and Senate will reconvene Tuesday at 2:00 p.m. and Monday at 3:00 p.m., respectively....more
On Thursday, Feb. 17, the Senate Finance Committee held a hearing entitled “Spotlighting IRS Customer Service Challenges.” The witnesses included National Taxpayer Advocate Erin Collins with the Internal Revenue Service...more
The House and Senate will reconvene Tuesday at 2 p.m. and Monday at 3 p.m., respectively. What to Watch - Congressional Democrats have added another high-profile item to their growing list of legislative to-dos. In...more
The House and Senate had relatively short floor agendas on Wednesday, but each took up measures that will make waves in Georgia courts–and the court of public opinion. The House approved, HB 478, Representative Bonnie Rich’s...more
The Senate Finance Committee released its draft tax provisions on Dec. 11 for the Build Back Better Act (BBBA). This draft is substantively similar to the House version that passed on Nov. 19, although Senate Democrats made...more
WHAT TO WATCH - Democrats are reportedly nearing a topline agreement on the Build Back Better Act, the legislative vehicle to advance much of President Biden’s social infrastructure agenda. President Biden provided an update...more
Democrats have promised a revamp of the current international tax system to ensure that large multinational corporations pay their “fair share,” stop offshoring jobs, and are incentivized to invest in domestic growth. The...more
Final Committee Deadline - Today marks the final committee deadline—the day when all omnibus finance bills must pass out of committee and advance to the House Ways and Means Committee or the Senate Finance Committee. The...more
The proposals in the Framework echo many of the themes set forth in the Made in America Tax Plan. Last week, President Biden outlined an infrastructure spending plan (the American Jobs Plan) and a tax reform plan (the...more
On April 5, Senate Finance Committee Chair Ron Wyden (D-OR), as well as Sens. Sherrod Brown (D-OH) and Mark Warner (D-VA), offered an international tax framework as a starting point to discussions on revamping the current...more
Welcome to 2020! Although we have enjoyed the time off, we have been itching to get back into the swing of things. Since you have not seen Taxation & Representation in your inbox since the previous decade, we thought it was...more
TAX TIDBIT - Five Takeaways and a Falsehood: Test Your Knowledge of the Ways and Means Tax Markup - On Thursday, the House Ways and Means Committee marked up and approved the following four bills, largely along...more
The Senate Finance Committee has launched a new effort to consider the fate of dozens of temporary tax provisions (or “extenders”) that have expired in recent years, as well as other provisions slated to expire in 2019 and...more
In This Issue: - Tax Tidbit - Legislative Lowdown - RegWatch - 1111 Constitution Avenue - At a Glance - Brownstein Bookshelf - Regulation Station ...more
Tax Tidbit - Regulators have until June 22 to finalize guidance on the Tax Cuts and Jobs Act (P.L.115-97). The 18-month mark since the legislation was signed into law is quickly approaching. The Treasury Department and...more
In This Issue - - Tax Tidbit - Legislative Lowdown - RegWatch - 1111 Constitution Avenue - 2020 Vision - At a Glance - Brownstein Bookshelf...more
TAX TIDBIT - SPOILER ALERT: The following piece contains Game of Thrones and Avengers Endgame spoilers—nothing that you probably would not have guessed on your own. But, we would rather not be responsible for ruining a...more
IN THIS ISSUE - Tax Tidbit - Legislative Lowdown - - Congress’s Kumbaya Moment - Biodiesel Tax Credit - Moore Trouble for Fed Pick - And the Results Are In 1111 Constitution Avenue...more
When Republicans muscled the Tax Cut and Jobs Act through Congress in late 2017, all Democrats could do was howl from the sidelines. Procedurally, Republicans didn’t need Democrats’ support to approve the sweeping tax...more
The House and Senate convene today at noon and 3 p.m., respectively. House - Votes. The chamber will take up a series of measures to expand and improve access to Health Savings Accounts...more
On Friday, May 25, 2018, the Senate unanimously approved a $41.49 billion budget for FY2019. The Senate’s passage of its annual spending plan follows Governor Charlie Baker’s budget proposal made in January and the House...more