January 29, 2014

While the President’s State of the Union address last night covered a range of topics, it did little to move the needle on tax reform. The full transcript of the speech can be seen here, but the President’s only mention of tax reform came about 20 minutes into his address:

Both Democrats and Republicans have argued that our tax code is riddled with wasteful, complicated loopholes that punish businesses investing here, and reward companies that keep profits abroad. Let’s flip that equation. Let’s work together to close those loopholes, end those incentives to ship jobs overseas, and …

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January 17, 2014

Senator Baucus is headed to China but his discussion drafts remain, as does the January 17^th deadline for commenting on them.

So earlier today, the S Corporation Association submitted comments in response to the Senate Finance Committee’s discussion draft on international tax reform. Released late last year, the staff discussion draft was the first in a series of proposals put out by Chairman Baucus to spark conversation about how best to overhaul the tax code.

Generally speaking, the comments provided S-Corp with a good opportunity to educate policymakers (and ourselves) on the presence of pass-through businesses with …

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