Paul L. Caron
Dean
Pepperdine Caruso
School of Law
Congressional News
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Senate Finance Committee Tax News
Tax News from the Senate Finance Committee: Grassley Sends Postmaster General Questions About Executive Moving Expenses (5/4): In fiscal years 2003 and 2004 alone you made 265 miscellaneous relocation payments of $10,000 each. That’s $2.65 million, and that doesn’t count the 10 $25,000 payments you made during that same time period, or the relocation income
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Update on NY Telecommuter Tax
We previously blogged the controversy surrounding the NY telecommuter tax (here, here, and here). Recent developments this week: Sen. Christopher Dodd & Congressman Christopher Shays to Introduce Telecommunications tax Fairness Act (5/6) N.Y. Telecommuter Tax Under Fire; Lawmakers’ Bill Would Block Double Taxation of Workers (Greenwich Time) (5/7) Telework Coalition web site (Thanks to reader
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Senate Finance Committee to Crack Down on Supporting Organizations
After a New York Times article on tax abuses of "supportint organizations," A Tax Benefit for Big Donors Often Bypasses Idea of Charity, the Chair and Ranking Member of the Senate Finance Committee announced that they plan to propose reforms to stop the use of “supporting organizations” for generous tax breaks rather than charitable purposes.
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Colombo and Hill Testify at House Hearing on The Tax Exempt Sector
The House Ways and Means Committee has released the testimony from yesterday’s hearing on An Overview of the Tax-Exempt Sector. According to the Hearing Advisory, the hearing was called: to examine the legal history of the tax-exempt sector; its size, scope and impact on the economy; the need for congressional oversight; IRS oversight of the
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Senate Holds Hearing Today on Solving the $350 Billion Tax Gap
The Senate Finance Committee holds a hearing today on The $350 Billion Question: How to Solve the Tax Gap. Here are the witnesses scheduled to appear: David Walker (Comptroller General, U.S. Government Accountability Office) George K. Yin (Chief of Staff, Joint Committee on Taxation) Mark Everson (Commissioner, Internal Revenue Service) Eileen J. O’Conner (Assistant Attorney
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House Holds Hearing Today on 2005 Tax Return Filing Season & 2006 IRS Budget
The Subcommittee on Oversight of the House Ways and Means Committee holds a hearing today on the 2005 Tax Return Filing Season and the IRS Budget for Fiscal Year 2006. The hearing will take place in the Ways and Means Committee hearing room, 1100 Longworth House Office Building, beginning at 2:00 p.m. For more information,
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Senate Finance Committee Releases Testimony from Hearing on Proposals for Charitable Reform
The Senate Finance Committee has released the member and witness statements from yesterday’s hearing on Charities and Charitable Giving: Proposals for Reform: Member Statements: Charles Grassley Max Baucus Witness Statements: Mark Everson (Commissioner, Internal Revenue Service) George K. Yin (Chief of Staff, Joint Committee on Taxation) Leon Panetta (Director, Panetta Institute for Public Policy) Mike
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Joint Tax Committee Issues Report in Connection with Today’s Senate Hearing on Expiring Tax Provisions
The Joint Committee on Taxation has issued issued Description And Analysis Of Certain Federal Tax Provisions Expiring In 2005 And 2006 (JCX-12-05) (113 pages) in connection with today’s 10 a.m. hearing by the Senate Finance Committee on tax provisions expiring in 2005 and 2006: This document, prepared by the staff of the Joint Committee on
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Hill Testifies at Congressional Hearing on § 527 Plans
Frances R. Hill (Miami) testified on Tuesday at the Senate Rules and Administration Committee hearing on the treatment of § 527 organizations. (Her testimony also is available on the Tax Analysts web page as Doc 2005-4748, 2005 TNT 45-24). Here is the opening: My testimony today focuses on the tax elements and tax planning strategies
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New Law Allows Tsunami Contributions to be Deducted on 2004 Tax Returns
The House and Senate yesterday passed by unanimous consent legislation (H.R. 241) to permit taxpayers to claim charitable deductions in tax year 2004 for donations they make for tsunami disaster relief until January 31, 2005, instead of having to wait until next year’s filing season. Only cash gifts made specifically for disaster relief are eligible.
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Treasury Refuses to Alter “Use It or Lose It” Rule in FSAs
The Treasury Department sent a letter to Senator Charles Grassley (R-Iowa), Senate Finance Committee Chair, claiming that it lacks "sufficient legal authority" to change the regulations under § 125, which provide that amounts from a salary reduction agreement to fund a heakth care flexible spending account ("FSA") which are not used to reimburse medical expenses
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Senate Bill Would Allow Tsunami Contributions to be Deducted on 2004 Tax Returns
Senate Finance Committee Chair Chuck Grassley (R-Iowa) joined with Ranking Minority Member Max Baucus (D-Mont.) yesterday in proposing to permit taxpayers to claim charitable deductions in tax year 2004 for donations they make for tsunami disaster relief until January 31, 2005, instead of having to wait until next year’s filing season. Only cash gifts made
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Senate Finance Committee to Take Up Charitable Reforms
Senate Finance Committee Chairman Charles Grassley issued a press release outling his tax priorities following President Bush’s re-election. Press reports blogged here yesterday indicate that charitable reform along the lines suggested in this June 2004 staff report are a top priority.
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Roll Call Votes in House and Senate on Tax Bill
Roll call votes on the tax bill (H.R. 4520): • House (280-141) • Senate (69-17) (Sens. Kerry and Edwards among 13 non-voting Senators)
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House Budget Committee Holds Hearing on Income Tax Alternatives
Thursday, October 7, 2004 The House Budget Committee yesterday held hearings on Federal Revenue Options, which discussed a variety of alternatives to the federal income tax. Here are the statements presented at the hearing: • Opening Statement by Chairman Jim Nussle (R-Iowa) • Rep. John Linder (R-GA) • Rep. Michael C. Burgess (R-TX) • Rep.
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ABA Tax Section Recommendations on Executive Compensation Paid by Tax-Exempt Organizations
Wednesday, October 6, 2004 In a 5-page letter to the Senate Finance Committee, the ABA Tax Section has made a number of recommendations regarding exempt organization executive compensation and intermediate sanctions (§ 4958). Specifically, the Tax Section recommends: • Requiring increased disclosure by exempt organizations of executive compensation arrangements• Retaining in modified form existing rules
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Chairman’s Mark for H.R. 4520: Jumpstart our Business Strength (JOBS) Act
Tuesday, October 5, 2004 Here is a copy of the 25-page Summary of the Chairman’s Mark for H.R. 4520: Jumpstart our Business Strength (JOBS) Act (Oct. 4, 2004). (Thanks to Donald Tobin (Ohio State) for sharing this with the broader tax community.)
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Conference Agreement on Tax Bill
Thursday, September 23, 2004 Here are documents relating to the Conference Agreement on H.R. 1308, the Working Families Tax Relief Act of 2004: • Summary by Democratic staff • Summary by Conference Managers • Statutory Language • Statement of Managers • Revenue Estimates (Thanks to Donald Tobin (Ohio State) for sharing these documents from his
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Joint Committee on Taxation Issues Report on Child Tax Credit Bills
Wednesday, September 22, 2004 The Joint Committee on Taxation has published Comparison of Provisions Contained in H.R. 1308, The “All-American Tax Relief Act Of 2003” (as passed by the House 6/12/03) and The “Relief For Working Families Tax Act Of 2003” (as passed by the Senate 6/5/03) (JCX-57-04)
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Senate Bill to Prevent NY from Taxing Portion of Cardozo Tax Prof’s Salary Attributable to Work in Conn. Home Office
Wednesday, September 15, 2004 Senators Dodd and Lieberman last week introduced The Telecommuter Tax Fairness Act of 2004 (S. 2785) to prohibit a state from applying the “convenience of the employer” rule to impose its personal income tax on a nonresident individual’s salary with respect to any period of time the individual is not physically
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Maule on Role of Congress and Courts in Tax Legislation
Friday, September 10, 2004 A follow-up on two recent TaxProf Blog posts: • Reimels v. Commissioner, 123 T.C. No. 12: Social security disability insurance benefits received on account of lung cancer, developed as a result of the taxpayer’s exposure to Agent Orange while serving in Vietnam, are includible in income under § 86 and not