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Tax News & Views Archive

Deloitte ImageTax News & Views, published by the Deloitte Tax LLP Tax Policy Services group in Washington, D.C., provides a compact, reader-friendly perspective on the latest corporate tax developments coming out of Congress, the Internal Revenue Service (IRS), the Department of the Treasury, and the federal courts.

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July 18, 2014
Wyden open to near-term inversion bill as Treasury calls for immediate action

  • Wyden open to near-term inversion bill as Treasury calls for immediate action – The debate over corporate inversions heated up again as Senate Finance Committee Chairman Ron Wyden, D-Ore., said he no longer wants to wait for tax reform to address the issue and the Treasury Department called on Congress to take immediate retroactive action.
  • House OKs Highway Trust Fund patch; Senate to vote on multiple plans – The House approved legislation that would replenish the rapidly dwindling Highway Trust Fund and extend its spending authority into 2015; meanwhile, Senate leaders announced that lawmakers in that chamber would vote on three competing short-term plans to keep the trust fund in the black.
  • House approves permanent charitable giving extenders – The House approved unpaid-for legislation that would permanently extend the now-expired deduction for charitable contributions of food inventory, provisions related to qualified charitable distributions from retirement accounts, and special rules for qualified contributions of conservation easements; give taxpayers additional flexibility in claiming their deductions for charitable contributions; and simplify the excise tax on investment income of private foundations.
  • House approves permanent Internet tax moratorium – The House approved legislation that would permanently extend the current-law moratorium on state and local Internet access taxes and multiple and discriminatory taxes on electronic commerce.
  • Long-term debt, deficit approaching unsustainable levels, CBO says – New estimates from the Congressional Budget Office suggest that if current tax and spending laws remain in effect, U.S. debt and deficit levels will drop slightly as a percentage of gross domestic product in the near term but will be on the increase by 2024 and reach levels by 2039 that “could not be sustained indefinitely.”

July 11, 2014
House and Senate taxwriters draw lines over highway funding fix

June 27, 2014
Wyden proposes short-term highway funding fix but delays Finance Committee mark-up

June 20, 2014
Wyden, Hatch hint at short-term highway funding fix

June 13, 2014
House approves permanent small business expensing, S corp incentives

June 6, 2014
Senate extenders stalemate continues

May 30, 2014
Ways & Means approves permanent bonus depreciation deduction, charitable giving extenders

May 23, 2014
No progress on Senate extenders bill as lawmakers adjourn for Memorial Day

May 16, 2014
Amendment dispute stalls Senate tax extenders bill

May 9, 2014
Permanent research credit clears House

May 2, 2014
Ways & Means approves first tranche of permanent extenders

April 11, 2014
House taxwriters mull future of extenders

April 4, 2014
Finance Committee breathes new life into expired tax provisions

March 28, 2014
Camp, Wyden to tackle extenders legislation in April

March 21, 2014
Finance Committee eyes early April extenders vote, reports say

March 14, 2014
Tax reform should grow the middle class, Wyden says

March 7, 2014 - Special Edition
White House budget proposal takes aim at familiar revenue targets

March 4, 2014 - Special Edition
White House releases FY 2015 budget proposal

February 27, 2014 - Special Edition
Camp tax reform draft achieves 25 percent top rate for corporations, individuals – but revenue tradeoffs abound

February 26, 2014 - Special Edition
Camp releases comprehensive tax reform discussion draft

February 21, 2014
Camp to release comprehensive tax reform proposal next week

February 14, 2014
Camp to release comprehensive tax reform proposal soon, reports say

February 7, 2014
Baucus cleared for takeoff to China; Wyden poised to take over Finance Committee

January 31, 2014
Obama revisits corporate-only tax reform in State of the Union address

January 24, 2014
Wheels set in motion for Baucus’s exit; status of Finance Committee tax reform agenda remains unclear

January 17, 2014
Ways & Means Republicans continue tax reform outreach to lawmakers, public

January 10, 2014
Baucus promises more discussion drafts; Camp aims for tax reform bill this year

December 20, 2013
Baucus’s career change could upend expectations for Finance Committee action on tax reform, extenders

December 18, 2013 - Special Edition
Baucus releases tax reform draft on energy incentives

December 13, 2013
House OKs two-year budget plan with new revenue – but no tax increases

December 6, 2013
Ways & Means tax reform mark-up, congressional action on extenders won’t happen this year, Camp confirms

November 22, 2013
More discussion drafts planned for 2013, Baucus says

November 21, 2013 - Special Edition
Baucus proposes significant changes to cost recovery, tax accounting rules

November 21, 2013 - Special Edition
Baucus releases tax reform discussion draft on cost recovery, tax accounting rules

November 20, 2013 - Special Edition
Baucus releases discussion draft on tax administration

November 19, 2013 - Special Edition
Baucus tax reform discussion draft takes on international tax rules

November 19, 2013 - Special Edition
Baucus releases ‘staff discussion draft’ of international tax reform proposal

November 15, 2013
Baucus, Camp hit potholes in tax reform rollout plans

November 8, 2013
Baucus moving ahead with tax reform discussion drafts; details remain elusive

November 1, 2013
Baucus prepares to release tax reform discussion drafts

October 25, 2013
Lawmakers stake out familiar negotiating positions ahead of House-Senate budget conference

October 18, 2013
No tax provisions in government funding, debt-limit deal

October 11, 2013
Obama, Republicans discuss shutdown, debt ceiling

October 4, 2013
Lawmakers mull options as government shutdown takes effect

September 27, 2013
House GOP tax reform parameters to include 25 percent top rate, Camp says

September 20, 2013
House to include tax reform instructions in debt ceiling bill

September 13, 2013
Fiscal challenges take a front seat as Congress returns to work

September 6, 2013
Camp, Baucus continue tax reform road tour as Congress returns from recess

August 2, 2013
Camp planning tax reform mark-up for October

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