Tax News & Views - April 4, 2014
Vol. 15, No. 15
Tax Policy Group, Deloitte Tax LLP
- Finance Committee breathes new life into expired tax provisions – The Senate Finance Committee approved legislation that would retroactively extend through 2015 nearly all the temporary tax deductions, credits, and incentives that expired at the end of last year.
- House taxwriting chief to retire: What does that mean for tax policy? – House Ways and Means Committee Chairman Dave Camp announced that he will not run for re-election when his current term expires at the end of 2014.
- House budget writers call for tax reform but don’t commit to the Camp plan – The House Budget Committee approved a fiscal year 2015 budget resolution that calls for revenue-neutral tax reform but stops short of endorsing the enactment of the comprehensive tax reform discussion draft that Ways and Means Committee Chairman Dave Camp unveiled in February.
- House OKs change to definition of ‘full-time employee’ under PPACA’s employer mandate – The House of Representatives approved legislation that would alter the definition of a “full-time employee” for purposes of the employer mandate that was enacted in the Patient Protection and Affordable Care Act.
- Senate subcommittee hearing examines offshore profit shifting – The Senate Committee on Homeland Security and Governmental Affairs Permanent Subcommittee on Investigations held a hearing on profit shifting by U.S. multinationals, focusing on Caterpillar Inc., and its restructuring in the late 1990s of its foreign operations.
See attached file for details.
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