Tax News & Views - June 27, 2013
Vol. 14, No. 27
Tax Policy Group, Deloitte Tax LLP
- Finance Committee leaders announce zero-based approach to tax reform – Senate Finance Committee Chairman Max Baucus, D-Mont., and ranking Republican Orrin Hatch of Utah announced in a June 27 letter to their Senate colleagues that they intend to approach tax reform as a blank slate, with all current-law expenditures assumed to be expunged from the code and the onus on lawmakers to make a case for which provisions should be added back in.
- Commentary: Why the zero-based tax reform announcement is significant – Jon Traub, Deloitte Tax LLP’s managing principal for tax policy, contends that for businesses and individuals interested in tax reform, the announcement by Finance Committee leaders that they intend to take a zero-based approach to tax reform is an important development and one that should not be ignored.
- Supreme Court ruling expands availability of federal tax benefits to married same-sex couples – In a decision that is expected to usher in greater parity of federal tax benefits between same-sex and heterosexual married couples, the U.S. Supreme Court ruled that a lesbian surviving spouse was entitled to the estate tax marital deduction.
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