Christine Walizer, Author at The S Corporation Association

Pass-Through Businesses Get Their Day

On the heels of the release of the Ways and Means Committee’s discussion draft to reform the international tax code and drop the corporate rate to 25 percent, a Subcommittee of the House Committee on Small Business held a hearing Thursday morning to discuss how and why the business tax reform needs to include pass-through businesses.

Entitled “Pro-Growth Tax Policy: Why Small Businesses Need Individual Tax Reform,” the hearing was rife with good testimony. Tax Notes had a nice write-up on it this morning:

“Flow-through businesses would lose the benefit of widely used and long-standing provisions, such as accelerated depreciation and …

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admin2019-02-01T20:24:44+00:00November 4, 2011|

Ways & Means Releases Tax Reform Outline — Part I

The Ways and Means Committee Republicans released their long-awaited draft on international tax reform today. According to the Committee, today’s release is part of a series of reforms to be outlined by the Committee in coming months, the whole of which would make up a comprehensive rewrite of the tax code.

Good news there. As our Washington Wire readers know, we’ve been making the case since last January that any reform effort needs to be comprehensive.

According to the Committee: “Today, Ways and Means Committee Chairman Dave Camp (R-MI) unveiled an international tax reform discussion draft as part of the Committee’s broader …

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admin2019-02-01T20:24:44+00:00October 27, 2011|

Increased Activity on Tax Reform

A Hill report from yesterday adds detail to the rumblings over the past week that the House Ways and Means Committee Republicans are putting together a discussion outline for tax reform. According to The Hill:

Sources say GOP lawmakers on the House Ways and Means Committee are working on a draft proposal that would shift the U.S. to a so-called “territorial” tax system, in which companies would basically only be taxed on profits made within American borders.

The Ways and Means plan would not be a fully drafted bill, but instead a proposal that would allow business groups and other stakeholders to …

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admin2019-02-01T20:24:44+00:00October 19, 2011|

More Talk on Corporate-Only Reform

Congressional Quarterly has a really good article on the state of tax reform discussions on the Hill, and the Super Committee in particular. Here’s a few of the key paragraphs:

Advocates of a corporate overhaul argue that a lower corporate tax rate would help spur economic growth by improving the competitive position of the United States, which now has the second-highest corporate tax rate in the world, much to the chagrin of lawmakers in both parties. Moreover, with the unemployment rate hovering above 9 percent, lawmakers are eager to have the deficit panel take steps to boost the sluggish economy, …

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admin2019-02-01T20:24:44+00:00October 14, 2011|

Business Groups Endorse Comprehensive Tax Reform

As the Joint Select Committee on Deficit Reduction considers tax reform options, a large and diverse group of business associations has written to the Senate Finance and House Ways and Means Committees making clear that any effort to reform the tax code must be comprehensive and it must recognize the critical contribution pass-through businesses make to investment and job creation in the United States.

Released on Wednesday, October 12^th and signed by 44 business associations, including the National Federation of Independent Business, the National Association of Wholesale Distributors, the Associated General Contractors, the American Council of Engineering Companies, the Independent Community …

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admin2019-02-01T20:24:44+00:00October 12, 2011|