Paul L. Caron
Dean
Pepperdine Caruso
School of Law
Congressional News
-
Joint Tax Committee Releases IRS Disclosures of Tax Return Information, 2009
The Joint Committee on Taxation yesterday released Disclosure Report for Public Inspection Pursuant to Internal Revenue Code Section 6103(p)(3)(C) for Calendar Year 2009 (JCX-25-10): Section 6103(p)(3)(C) of the Internal Revenue Code provides that the Secretary of the Treasury shall, within 90 days after the close of each calendar year, furnish to the Joint Committee on
-
Senate Holds Hearing Today on The Tax Filing Season
The Senate Finance Committee holds a hearing at 10:00 a.m. this morning on Filing Season Update: Current IRS Issues. Here are the witnesses scheduled to testify: Steven T. Miller (Deputy Commissioner for Services and Enforcement, IrS) Nina Olson (National Taxpayer Advocate, IRS)
-
House Holds Hearing Today on State Taxation
The House Judiciary Committee holds a hearing at 11:00 a.m. this morning on State Taxation – The Impact of Congressional Legislation on State and Local Government Revenues: Panel #1: James H. Douglas (Vermont Governor, on behalf of the National Governors Ass'n) B. Glen Whitley (Tarrant County Judge, on behalf of the National Ass'n of Counties)
-
House Holds Hearing Today on Energy Tax Incentives
The House Ways & Means Committee holds a hearing today on Energy Tax Incentives Driving the Green Job Economy: The hearing will examine the effectiveness of current energy tax policy and identify additional steps that the Committee can take to ensure continued job growth in this area while at the same time advancing national energy
-
Forbes: Congress Blocks e-Filing by Requiring Paper Filing of Certain Forms; But PDF Attachments to e-Filing Coming in 2012
Forbes, When the IRS Says ‘Mail It In’, by Ashlea Ebeling: Congress has instructed the IRS to get 80% of all individual taxpayers filing their 1040s electronically by 2012. But at the same time, it keeps creating special credits and provisions that mean some taxpayers still can’t file electronically–or at least can’t do so without
-
Chutzpah: Rep. Rangel Offers Tax Advice to His Constituents
Charlie Rangel, who has taken a leave of asbsence from chairing the House Ways & Means Committee while the House Ethics Committee investigates reports that he dodged his taxes, has sent a tax advice flyer to his constituents. DNAinfo, Harlem Rep. Charlie Rangel Offers Tax Advice Despite His Own Tax Woes Going Concern, The Irony of
-
‘Medicare Tax’ in Health Bill Changed to ‘Unearned Income Medicare Contribution’
Pro Publica, ‘Medicare Tax’ Now to be Called ‘Unearned Income Medicare Contribution’: The payroll tax increase that was formerly known as “Medicare tax” in both President Obama’s health care reform reconciliation proposal and the original House reconciliation bill is NOT A TAX. Repeat: NOT A TAX. Sure, individuals with earnings over $200,000 and couples with
-
Joint Tax Committee Releases Report on Manager’s Amendment to H.R. 4849
The Joint Committee on Taxation today released A Description of the Revenue Provisions Added or Modified by the Manager’s Amendment to H.R. 4849 (JCX-21-10): The manager’s amendment modifies section 306 of H.R. 4849, relating to the availability of collection due process rights with respect to levies for tax liabilities of Federal contractors, adds a provision
-
Joint Tax Committee Releases The 2010 and 2011 Tax Law
The Joint Committee on Taxation today released Present Law and Background Data Related to the Federal Tax System in Effect for 2010 And 2011 (JCX-19-10), in advance of tomorrow's House Ways & Means Committee hearing on Taxes and the Budget: The current Federal tax system has four main elements: (1) an income tax on individuals and
-
Joint Tax Committee on the House Health Care Bill
The Joint Committee on Taxation released two documents on the health care bill and "fixes" approved yesterday by the House: Technical Explanation of the Revenue Provisions (JCX-18-10) Estimated Revenue Effects (JCX-17-10) Update: Linda Beale, House Passes Health Care Bill Joe Kristan, It's Insane, It's Unworkable, So They Had to Ram it Through Right Away Greg Mankiw,
-
House Health Care Bill Includes 3.8% Medicare Tax on Investment Income
Following up on my prior posts (President Obama's Health Care Tax Increases, WSJ: Obama's 'Sneaky' New Tax on Investments, ObamaCare's Worst Tax Hike: For the First Time, Payroll Levies Will Hit Investment Income): the House Health Care bill unveiled today includes a 3.8% Medicare tax on investment income (interest, dividends, capital gains, annuities, rents) earned by those with incomes
-
House Approves Bill Requiring the IRS to Use ‘Plain Writing,’ Except in Regs
The House yesterday voted 386-33 to approve H.R. 946, the Plain Writing Act of 2010, which would require the IRS and other government agencies to write public documents in “plain writing,” defined as “writing that the intended audience can readily understand and use because that writing is clear, concise, well-organized, and follows other best practices of plain writing.” The
-
Ways & Means Chair Favors Retroactive Return of Estate Tax ($3.5m Exemption, 45% Rate), TP Choice of Applying 2009 or 2010 Law
House Ways and Means Committee Chair Sander Levin announced to reporters yesterday that he hopes to begin work on an estate tax bill in the coming weeks that would adopt 2009's $3.5 million exemption and 45% top rate, retroactive to January 1, 2010. But he said the committee is exploring giving estates the choice in 2010 of whether to follow the reinstituted 2009
-
Nina Olson to Testify at House Hearing Today
The Subcommittee on Oversight of the House Ways & Means Committee holds a hearing at 2:00 p.m. today (webcast here) on The National Taxpayer Advocate’s 2009 Report on the Most Serious Problems Encountered by Taxpayers: The Taxpayer Advocate will highlight key issues and recommendations from her December 2009 Report to Congress. The Taxpayer Advocate’s report
-
Joint Tax Committee Scores Tax Provisions of President Obama’s Budget
The Joint Committee on Taxation yesterday released Estimated Revenue Effects of the Revenue Provisions Contained in the President’s Fiscal Year 2011 Budget (JCX-7-10R), with a score of $2.7 trillion from 2010-2020, composed of: Indexing the AMT for inflation: -$583.6 billion Permanently extending 10 of the 2001 and 2003 tax cuts: -$2.5 trillion 9 temporary stimulus measures: -$92.7 billion 5
-
New House Ways & Means Chair Sander Levin’s Tax Problem (Hint: The Same One as Former (1-Day) Chair Pete Stark)
Roll Call, Levin Repays Property Tax Credit: Newly anointed House Ways and Means Chairman Sander Levin (D-Mich.) repaid a Maryland property-tax credit Friday that he should not have received, his office confirmed. Levin, who owns a home in Chevy Chase, Md., received a $690 credit on his most recent property tax bill, the result of Montgomery
-
Democrats Pull Bill Firing 678 Congressional Staff Tax Deadbeats; ‘Just Because You’re Fighting with the IRS Doesn’t Mean You’re Wrong’
Following up on yesterday's post, Fire All 678 Congressional Staffers Who Are Tax Deadbeats?: Politico, Democrats Pull Tax Cheat Bill: Legislation that would force government and Hill staffers to pay back taxes or lose their jobs was pulled from House committee markup today after Democrats hit the brakes. Rep. Stephen Lynch (D-Mass.), who chairs the
-
Fire All 678 Congressional Staffers Who Are Tax Deadbeats?
Politico, Jason Chaffetz: Ax Hill Staff Tax Cheats: Congressional employees who don’t pay their taxes could be fired if Rep. Jason Chaffetz (R-Utah) gets his way. Chaffetz will introduce legislation Thursday that would allow Hill offices to get rid of the hundreds of Senate and House staffers who owe the government millions of dollars. In
-
More on the Wyden, Gregg Bipartisan Tax Reform Bill
Following up on my prior posts (here and here) on the Wyden, Gregg Bipartisan Tax Reform Bill: The Atlantic, What Real Tax Reform Looks Like The Committee for a Responsible Federal Budget, Wyden and Gregg to the Rescue Forbes, How To Clean Up The Tax Code: Does Wyden-Gregg Point the Way?, by Bruce Bartlett New York Times,
-
CBO: Reducing Inflation Adjustments in the Tax Code
The Congressional Budget Office has released Using a Different Measure of Inflation for Indexing Federal Programs and the Tax Code: Many federal programs and parts of the tax code are currently indexed to increases in the consumer price index (CPI), a measure of inflation calculated by the Bureau of Labor Statistics (BLS). According to many
-
Joint Tax Committee Scores President Obama’s Health Care Tax Increase at $412.2 Billion
The Joint Committee on Taxation has released a revenue estimate of President Obama's proposed tax increases in his health care plan — pegging the cost at $412.2 billion over the 2010-19 period.
-
Wyden, Gregg Bipartisan Tax Reform Bill
Following up on yesterday's post, Sens. Wyden, Gregg Introduce Bipartisan Tax Reform Bill: 3 Individual Rates (15%, 25%, 35%), 1 Corporate Rate (24%): Text of Bill (the Bipartisan Tax Fairness and Simplification Act of 2010) Homepage Two-Page Summary New Form 1040 (right) Congressional Research Service Revenue Estimate Combined Corporate Tax Rates for OECD Countries Examples of
-
Senate Approves Jobs Bill, 70-28
The Senate yesterday voted 70-28 to approve the Jobs Bill (the Hiring Incentives to Restore Employment Act of 2010): Text of Bill Joint Committee on Taxation, Technical Explanation (JCX-4-10) Joint Committee on Taxation, Revenue Estimate (JCX-5-10) Los Angeles Times Washington Post
-
Sens. Wyden, Gregg Introduce Bipartisan Tax Reform Bill: 3 Individual Rates (15%, 25%, 35%), 1 Corporate Rate (24%)
Following up on last week's post, Sens. Wyden, Gregg to Introduce Bipartisan Tax Reform Bill: Sens. Wyden and Gregg have published an op-ed in today's Wall Street Journal, A Bipartisan Plan for Tax Fairness: The U.S. Shouldn't Have One of the Highest Corporate Rates in the World: There is an important issue looming on the
-
Sens. Wyden, Gregg to Introduce Bipartisan Tax Reform Bill
Senators Ron Wyden (D-Ore.) and Judd Gregg (R-N.H.) announced today that they plan to introduce comprehensive tax reform legislation when the Senate returns next week: For more than two years, we have been working together on tax reform legislation. While the prevailing wisdom is that there is no such thing as genuine bipartisanship — especially on