Home/Tag: Congressional Budget Office

Treasury Holds Conference on Business Tax Issues

Treasury Secretary Hank Paulson will hold a one day conference on July 26th to focus attention on the US tax treatment of business income and how it might be improved. The conference will include a larger meeting in the Treasury Cash Room open to the press followed by at least two “break out” sessions for conference participants.

Why focus on corporate tax policy now? The Wall Street Journal, Bloomberg Markets, and other

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2019-02-06T18:44:37+00:00July 13, 2007|

Is Official Washington Targeting S Corporations? Sure Looks That Way

As our readers know, the IRS is currently targeting S corporations, and only S corporations, for audits as part of its on-going “Tax Gap” research project. And the Joint Committee on Taxation and Treasury Inspector General for Tax Administration have, over the past couple year, proposed to dramatically increase the application of payroll taxes on S corporation income.

Now the Congressional Budget Office issues its new biannual “Budget Options” report, and there, on page 297 is an option entitled, “Repeal Tax-Free

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2019-02-06T18:46:06+00:00February 26, 2007|