Christine Walizer, Author at The S Corporation Association

Treasury to Propose Corporate Tax Reform Plan

Appearing before a subcommittee of the Senate Appropriations Committee to discuss FY 2012 Treasury Department funding, Secretary Geithner said the Administration is ready to get the ball rolling on corporate tax reform, telling Senators, “I’m actually quite optimistic we’re going to be able to start that process with a very strong pro-investment, pro-growth, pro-competitiveness proposal.” Below is the video of his testimony (Discussion of tax reform can be found at 25:28).

There were few specifics on when, or in what form the proposal would take, but the …

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admin2019-02-01T20:48:06+00:00April 6, 2011|

The “Ideal” Way to Tax Businesses

The story on tax reform continues to progress. Last week, the Senate Finance Committee held another in its series of hearings on the various aspects of reform. This hearing, entitled “How do Complexity, Uncertainty, and Other Factors Impact Responses to Tax Incentives?” brought forth witnesses Dr. Robert Carroll, Dr. Eric Toder, and Dr. Raj Chetty.

The internet feed of the hearing was playing in the background on our computers last Wednesday when this exchange took place:

Senator Snowe: Dr. Carrol, could you give us some comments on [the corporate-only approach to tax reform because that is a problem, requiring flow-throughs to …

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admin2019-02-01T20:48:06+00:00April 5, 2011|

Camp Pushes Comprehensive Reform

The Wall Street Journal reports that Ways and Means Chairman Dave Camp wants to push tax reform that addresses both the corporate and individual tax codes. That’s good news for S corporations and the majority of employers out there. According to The Journal:

The chairman of the House Ways and Means Committee wants to cut the top U.S. tax rate to 25% for individuals and corporations, and cut or eliminate many popular deductions.

The odds of quick action appear slender. But the move, from Rep. Dave Camp (R., Mich.), is significant as a marker in what will likely be a multiyear debate …

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admin2019-02-01T20:48:06+00:00March 23, 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|

Using Pass-Throughs to Pay for Corporate Reform

Tax Notes has an article that pours more gasoline on the fire started by Bloomberg and the Geithner-led Treasury Department last weeks.

The piece, written by Martin Sullivan, argues that pass-through treatment of some firms “erodes” the corporate tax base and concludes:

In the meantime, corporate tax reformers are left in the awkward position of trying to improve a fundamentally unsound tax. If we broaden the corporate tax base by trimming tax incentives (for example, accelerated depreciation), should those same tax incentives be trimmed for passthrough entities? Many would like to keep tax reform confined to the corporate sector. But politics …

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admin2019-02-01T20:48:06+00:00March 1, 2011|