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politics

Congress To Consider ‘Keep The IRS Off Your Health Care Act Of 2013′ This Week

31 July 2013

Rep. Tom Price (R-GA) has introduced H.R. 2009, referred to as the Keep the IRS Off Your Health Care Act of 2013 to prohibit the Secretary of the Treasury from enforcing the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010. The bill would bar IRS from enforcing the health care act as a result of the most recent tax exempt organization scandal.

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Baucus & Camp Talk Reform As Tax Road Show Rolls On

30 July 2013

Senate Finance Committee Chairman Max Baucus (D-MT) and House Ways and Means Committee Chairman Dave Camp (R-MI) made a stop in Philadelphia as part of their bipartisan roadshow for tax reform. Small business owners talked tax and business – and no surprise, simplification and certainty topped their wish list.

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Rather Than Tackle Tough Tax Reform, Congress Focuses On The Death Tax. Again.

19 July 2013

Congress introduces two more bills to repeal the estate tax.

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Ending Tax Breaks On Municipal Bonds Shifts Burden To The Rest Of Us

16 July 2013

Better check that portfolio: the Obama administration is continuing to push for limits on the tax exemption of municipal bonds. The plan was tucked away in the President’s budget introduced in April but hasn’t attracted much public attention – until now, when it appears that the cap may actually happen. Traditionally, municipal bonds have attracted […]

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Congress Threatens IRS With ‘Right-Sized’ Budget Cuts

14 July 2013

Things just keep getting worse for the Internal Revenue Service. Last week, a House Appropriations subcommittee proposed to slash the tax agency’s budget by nearly 25% for the next fiscal year. The cuts would bring the agency’s budget to the lowest level in more than ten years. The budget, which Chairman Hal Rogers (R-KY) has […]

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As Second IRS Official Pleads The Fifth, Congress Pushes For ‘Lerner Rule’

9 July 2013

Greg Roseman, a Deputy Director at the Internal Revenue Service, didn’t make any friends on the Hill last month when he refused to testify at a House Oversight Committee hearing. It was the second time in recent memory that an IRS employee had invoked a Fifth Amendment right not to testify: Roseman follows hot on […]

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White House Suspends Tax, Other Reporting Requirements For Obamacare

2 July 2013

Delays, delays and more delays. That seems to be the trend this year as concerns mount about how to implement components of Affordable Care Act (ACA), commonly called Obamacare or the Health Care Act. The White House has reacted to what’s being touted as a series of “operational challenges” by extending deadlines for coverage and […]

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What Back Taxes? Senate Passes Immigration Reform Bill, Goes Easy On Tax Repayment

28 June 2013

On Thursday, the U.S. Senate pushed through comprehensive immigration bill, Border Security, Economic Opportunity, and Immigration Modernization Act, S. 744 with a 68-32 vote. I’ll be honest: I haven’t read the whole thing yet. It’s a whopping 1,200 pages as passed. If you’re willing to wade through it all, you can find it here (a […]

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Marc Rich, Famous Fugitive & Alleged Tax Evader Pardoned By President Clinton, Dies

27 June 2013

Marc Rich, one of the most famous white collar criminals in recent memory, has died in Switzerland at age 78, as the result of a stroke. Rich became a millionaire before he turned 50 – but not without controversy. The college dropout (he never finished New York University) found a profitable market in trade. By […]

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Prop 8 Appeal Dismissed At Supreme Court On Procedural Grounds

26 June 2013

Last December, the Supreme Court granted certiorari on two same sex marriage cases. Those cases include Hollingsworth v. Perry, a challenge to California’s controversial Proposition 8 measure, and a case out of New York, U.S. v Windsor, which considers the constitutionality of the Defense of Marriage Act (DOMA). The Supreme Court has now issued opinions […]

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