Paul L. Caron
Dean
Pepperdine Caruso
School of Law
Gov’t Reports
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Joint Tax Committee Releases Revenue Estimates of Tax Bills
Thursday, July 22, 2004 The Joint Committee on Taxation has released revenue estimates of two tax bills: • H.R. 4840, The Tax Simplification For America’s Job Creators Act Of 2004 • H.R. 4841, The Tax Simplification For Americans Act Of 2004
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IRS Releases 5-Year Strategic Plan
Friday, July 16, 2004 The IRS has released a 35-page Strategic Plan for 2005-2009 that outlines three broad goals: • Improve Taxpayer Service • Enhance Enforcement of the Tax Law • Modernize the IRS Through Its People, Processes, and Technology
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IRS Attorney Directory by Code Section & Subject Matter
Thursday, July 15, 2004 The monthly update of the 121-page directory of attorneys in the IRS Chief Counsel’s Office, arranged by Internal Revenue Code Section and Subject Matter, is available on the Tax Analysts’ web site.
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IRS Releases Tax Exempt Bond Statistics
Thursday, July 15, 2004 The IRS has released four sets of data on tax exempt bonds issued in 1996-2000, classified by type of bond (new money issues versus refunding issues), term of issue (short-term versus long-term), and purpose of the bond (education, transportation, etc.).
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Joint Committee on Taxation Releases Report on Tax Treatment of Tip Income
Wednesday, July 14, 2004 The Joint Committee on Taxation has released Present Law And Background Relating To The Tax Treatment Of Tip Income (JCX-48-04) in advance of Thursday’s public hearing by the Subcommittee on Oversight of the House Ways & Means Committee on the IRS’s enforcement of the tax laws with respect to tip income.
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Commissioner’s Testimony at Charitable Abuse Hearing
Wednesday, June 23, 2004 For the full text of IRS Commissioner Everson’s 17-page testimony before Monday’s Senate Finance Committee hearing on Charitable Oversight Reform: Keeping Bad Things from Happening to Good Charities, see here.
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CBO Releases Budget Implications of Recognition of Same-Sex Marriage
Tuesday, June 22, 2004 The Congressional Budget Office yesterday issued a report, The Potential Budgetary Impact of Recognizing Same-Sex Marriages.
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Joint Committee on Taxation Releases Revenue Estimate of Jobs Act
Tuesday, June 22, 2004 The Joint Committee on Taxation today released Estimated Revenue Effects Of H.R. 4520, The “American Jobs Creation Act Of 2004,” As Passed By The House Of Representatives (JCX-45-04).
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Joint Committee Releases Description and Revenue Effects of Amendments to Jobs Creation Act
Sunday, June 13, 2004 The Joint Committee on Taxation has released a 10-page Description of the Chairman’s Amendment in the Nature of a Substitute to the Provisions of H.R. 4520, the “American Jobs Creation Act of 2004” (JCX-42-04) and Estimated Revenue Effects of the Amendments (JCX-41-04).
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Joint Committee Releases Description and Revenue Effects of Jobs Creation Act
Saturday, June 12, 2004 The Joint Committee on Taxation has released a 261-page Description of H.R. 4520, the “American Jobs Creation Act of 2004” (JCX-41-04) along with Estimated Revenue Effects of H.R. 4520 (JCX-38-04).
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Joint Economic Committee Report Says Only 24% of Deficit Caused by Tax Cuts
Wednesday, June 2, 2004 The Joint Economic Committee today released a report, What Happened to the Surplus?, that explains how we went from a $5.6 trillion cumulative estimated surplus for fiscal years 2002-2011 to today’s estimated $2.9 trillion deficit for the same 10-year period. The report notes that “[s]ome observers argue that tax cuts enacted…
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IRS Attorney Directory by Code Section & Subject Matter
Tuesday, June 1, 2004 The monthly update of the 121-page directory of attorneys in the IRS Chief Counsel’s Office, arranged by Internal Revenue Code Section and Subject Matter, is available on the Tax Analysts’ web site.
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Joint Committee on Taxation Releases Revenue Estimates
Saturday, May 22, 2004 The Joint Committee on Taxation released revenue estimates for: • H.R. 4359, Child Credit Preservation and Expansion Act of 2004, as passed by the House (JCX-37-04) • H.R. 1528, Tax Administration Good Government Act, as passed by the Senate (JCX-35-04) • S. 1637, Jumpstart Our Business Strength (“JOBS”) Act, as passed…
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Statutory Language Released for Senate-Passed JOBS Act
Thursday, May 20, 2004 The 1008-page statutory language of Senate-passed S. 1637, the Jumpstart Our Business Strength (JOBS) Act, is now available on the Thomas web site. (Thanks to Donald Tobin (Ohio State) for the tip.)
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Conference Report on Budget Resolution
Wednesday, May 19, 2004 House and Senate Conferees filed the Conference Report to accompany the concurrent budget resolution (S. Con. Res. 95). (Thanks to Donald Tobin (Ohio State) for passing this along.)
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Senate Staff Summary of Pension Bill
Sunday, May 16, 2004 The Senate Finance Committee staff has prepared a very helpful 10-page summary of the National Employee Savings and Trust Equity Guarantee Act (NESTEG).
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Senate Staff Summary of JOBS Bill
Saturday, May 15, 2004 The Senate Finance Committee has posted a very helpful 34-page summary of the JOBS Act (S.1637).
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Joint Committee on Taxation Releases Revenue Estimates on Two Tax Bills
Friday, May 14, 2004 The Joint Committee on Taxation today released revenue estimates on two tax bills passed by the House: • HR 4279 (JCZ-33-04) (disposition of unused health benefits in cafeteria plans and flexible spending accounts) • HR 4275 (JCZ-34-04) (permanent extension of 10% rate bracket)
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CBO Releases Report on Retirement Savings and Revenue Projections
Tuesday, May 11, 2004 The Congressional Budget Office today released Tax-Deferred Retirement Savings in Long-Term Revenue Projections. Here is part of the Preface: This Congressional Budget Office (CBO) paper, requested by the Senate Finance Committee, examines how long-term revenue projections are affected by explicitly incorporating tax-deferred retirement savings. Using data from tax returns in a…
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SOI Releases Tax Return Data by Zip Code
Friday, May 7, 2004 The IRS has released Individual Income Tax Return Data by ZIP Code: Number of Returns (total and by income bracket) Exemptions AGI Salary & Wage Income Investment Income Earned Income Tax Credit Tax Liability Schedule C Income Schedule F Income Schedule A Deductions So you can check to see, for example,…
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Joint Economic Committee Releases Study on Competitiveness of U.S. Tax System
Friday, May 7, 2004 The Joint Economic Comittee has released How Competitive is the U.S. Tax System? Here is the abstract: Discussion of taxes should always keep in mind that a free country with an open economy always faces competition from other countries. Countries differ widely in what proportion of the economy their governments take…
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Joint Committee Releases Revenue Effects of AMT Bill
Friday, May 7, 2004 The Joint Committee on Taxation has released JCX-32-04 on the estimated revenue effects of H.R. 4227, the bill to extend AMT relief.
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CBO Releases Report on the AMT
Wednesday, May 5, 2004 The Congressional Budget Office has released a report on the Alternative Minimum Tax, available in both html and pdf. Here is the Introduction: For more than three decades, the individual income tax has consisted of two parallel tax systems: the regular tax and an alternative tax that was originally intended to…
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SOI Releases Report on Aviation-Related Excise Taxes
Wednesday, May 5, 2004 The just-released Statistics of Income Bulletin (Winter 2003-04) includes Excise Taxes and the Airport and Airway Trusts Fund, 1970-2002 by Eric Henry. Here is the abstract: The Airport and Airway Trust Fund instituted on July 1, 1970 has been affected by legislative changes over the years. These include terminating the Aviation…
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SOI Releases Projections of 2004-2010 Tax Returns
Tuesday, May 4, 2004 The just-released Statistics of Income Bulletin (Winter 2003-04) includes Projections of Returns That Will Be Filed in Calendar Years 2004-2010 by Terry Manzi. Here is the abstract: The Internal Revenue Service estimates that the total number of tax returns to be filed in 2004 will reach 226.8 million. With an estimated…