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S-CORP Clips | October 1-10

A compilation of the business tax related stories that caught our eye


Administration on Tax Reform

The President’s economic advisors have been unusually busy in recent weeks.  National Economic Council Director Jeffrey Zients was firm in his conviction that tax reform could get done in the new Congress, citing the “remarkably overlapping” approaches of Obama’s plan and the Camp draft.

It is true there are some common themes in the Camp and Administration proposals, but also there are major – and fatal – differences as well, including:

  • The Camp Draft is budget neutral while the Administration’s plan would raise revenue;
  • The Camp

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2014-10-10T19:13:33+00:00October 10, 2014|

Year-End Wrap Up

Two headlines in Politico this morning tell the story on tax policy for the remainder of the year: “Tax Cut Boils Down to Who Pays” and “K Street Mounts Last-Ditch Blitz for Tax Breaks.”

The first headline refers to the pending expiration of the payroll tax holiday. The Administration, Congressional Democrats, and some portion of the Republican conference support extending the payroll deduction through the upcoming year. As Politico reports:

It’s all but a foregone conclusion that President Barack Obama will win on the payroll tax-cut extension - on politics, policy or both - but Congress still has two weeks to

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2019-02-01T20:24:44+00:00December 5, 2011|

New Year – New Challenges

Happy New Year! As we’re preparing for the new Congress and the new challenges it brings, we would like to once again thank you for your continued support of the S Corporation Association and to emphasize the important work we do in defense of the S-Corp community.

Perhaps the best that can be said about 2010 is that it showed consistent improvement. The year started with a horrible economy and policy clouds on the horizon. And though some of those policies were enacted – the new 3.8 percent tax on S corporation income, for example – many were defeated and the

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2019-02-04T15:46:13+00:00January 18, 2011|

Taxes and Elections

With Congress gone, we thought we might dust off the old S-CORP Crystal Ball and make some predictions. By all accounts, the seats in play this cycle are well above the norm and this could go down as an historic election, much like 1974 or 1994.

So what do we expect? We predict that Republicans will control the House next year, while Democrats will retain the majority in the Senate, albeit with just a one or two vote majority. We come to this conclusion after reviewing the following sources:

We recommend each, especially

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2019-02-04T15:47:03+00:00October 19, 2010|

Senate Passes Built-In Gains Relief

After months of maneuvering, the Senate today adopted H.R. 5297, the Small Business Jobs and Credit Act.B This legislation includes a number of business-friendly provisions, including the built-in gains tax relief so important to the S Corporation Community.B This is a big (excuse the pun) victory for S corps everywhere!

The bill now moves back to the House, where it could take two paths.B On the first path, the House takes up the Senate version, passes it intact, and sends it to the President for his signature.B The second path would include House amendments and more floor

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2019-02-04T15:47:04+00:00September 16, 2010|