2023 Tax Outlook Pt. 1: Lame Duck Session, Split Congress Expectations
This two-part series forecasts tax developments the remainder of this month and the new year will bring. Part 1 begins …
Senate Committee Approves Budget Increase for IRS
The Senate Appropriations Committee on Sept. 19 voted to advance the FY2020 Financial Services and General Government Appropriations Act, which …
Chief Counsel updates guidance on assessing interest and penalties on criminal restitution
Background. Under Code Sec. 6201(a)(4)(a), the IRS may assess and collect criminal restitution ordered pursuant to 18 USC 3556 for failure to pay any …
Brady releases discussion draft of the “Tax Technical and Clerical Corrections Act”
Rep. Kevin Brady (R-TX), outgoing Chairman of the House Ways and Means Committee, has released the “Tax Technical and Clerical …
Middle-class tax cut will not be focus of Trump administration’s efforts
As reported by Reuters, Treasury Secretary Steve Mnuchin has said that a proposed middle-class tax cut that President Trump floated …
Proposed lame duck tax bill goes down to the wire
The White House has indicated that it wishes to avoid a government shutdown and that it will not insist on …
Tax bill heads to House floor
The House Rules Committee late on Nov. 29 approved a manager’s amendment from House Ways and Means Committee Chair Kevin …
Lame duck tax bill receives lukewarm reception from Democrats
Senate Democrats have indicated that they have little enthusiasm for holding votes on a lame duck tax bill, the Retirement, …
House Republicans release tax bill containing technical corrections, extenders and disaster relief
House Ways and Means Chairman Kevin Brady (R-TX) late on Nov. 27 released a 297 page tax package that addresses …
White House’s Kudlow: Tax reform’s next phase won’t happen in 2018
By Lisa Lambert, Chizu Nomiyama, Mike Stone and Bernadette Baum WASHINGTON (Reuters) – White House Economic Adviser Larry Kudlow told …