testimony - The S Corporation Association

S-CORP Testifies

Ahead of the extender deadline, S-Corp was on the Hill testifying yesterday that Congress needs to act to end the extender roller coaster and make permanent these provisions, including the built-in gains relief that affects so many of our S corporations. At a hearing hosted by the House Small Business Committee entitled “Tax Extenders and Small Businesses as Employers of Choice” S-Corp was represented by Tom Nichols, Chairman of our Board of Advisors.

Tom opened his remarks by highlighting the important role pass-through businesses play …

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admin2019-02-01T19:59:03+00:00December 4, 2015|

S-CORP Testifies on Built In Gains

Long-time S Corporation Association advisor Jim Redpath testified Tuesday before the Ways and Means Committee in support, among other items, of making permanent the 5-year recognition period for built in gains.

The hearing focused on making permanent a handful of so-called “extenders” that were part of Chairman Camp’s Discussion Draft released earlier this year, including the shorter built-in gains recognition period plus increased deductions for S corporations making charitable contributions.

Jim’s testimony, along with that of the four other witnesses, is available here. You can watch Jim’s testimony by clicking below:

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admin2019-02-01T20:05:24+00:00April 10, 2014|

Ways and Means Hearing

S-corporation taxation took center stage on the Hill last week.

Carrying the S-Corp flag before the House Ways and Means Committee was Association Advisor Tom Nichols of Meissner Tierney Fisher & Nichols S.C. Tom had been invited to represent the S Corporation Association and testify at a hearing entitled “Tax Treatment of Closely-Held Businesses in the Context of Tax Reform” along with five other witnesses representing other trade groups and academia. Tom’s testimony made clear to the tax writers what we’d like to see when they pursue tax reform:

“As much as possible, …

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admin2019-02-01T20:21:28+00:00March 13, 2012|

Pass-Thru Employment Takes Center Stage

Robert Carroll’s study on pass-thru businesses continues to be a centerpiece in the tax policy discussion here in DC.

At yesterday’s Finance Committee hearing on the future of tax rates, Bill Rys from the National Federation of Independent Business did a great job of articulating just how many people work for pass-through businesses and why raising tax rates will hurt their ability to invest and create jobs. As Bill pointed out in his testimony:

Based on 2008 tax data, pass through businesses represented 95 percent of all business entities. These businesses employed a majority – 54 percent - of the total private …

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admin2019-02-01T20:24:45+00:00September 15, 2011|

More on Pass-Throughs and Corporate Reform

Last week, the Ways and Means Select Revenue Subcommittee held a hearing that sought to counter the momentum building within the Administration and in the press to tax pass-through businesses to pay for corporate-only tax reform.

Robert Carroll of Ernst and Young was one of the witnesses. As you’ll recall, S-CORP has asked Carroll to author a study on the economic importance of pass-through businesses and what impact corporate-only reform might have on them. His testimony last week touched on those themes and provided us with a nice preview of the study to come - including the news that pass-through firms …

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admin2019-02-01T20:48:06+00:00March 8, 2011|