Tax News & Views - April 12, 2013
Vol. 14, No. 17
Tax Policy Group, Deloitte Tax LLP
- Lew defends White House budget proposal on Capitol Hill – Treasury Secretary Jack Lew faced some skeptical questions from congressional taxwriters – particularly on the issue of tax reform – as he testified in separate hearings before the House Ways and Means and Senate Finance committees on the Obama administration’s proposed fiscal 2014 budget.
- Finance Committee tax reform options paper looks at investment, innovation issues facing small business – The Senate Finance Committee released a paper outlining options for reforming the tax rules regarding business investment, tax accounting, and research and development as they relate to smaller businesses.
- White House budget proposal addresses IRS enforcement, tax compliance – In addition to proposals to provide tax incentives for domestic manufacturers and middle-class taxpayers and raise additional revenues, mainly from multinational corporations and upper-income individuals, the FY 2014 budget package released by the Obama administration on April 10 includes a number of provisions to bolster the IRS’s enforcement budget and ensure taxpayer compliance.
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