Senate Finance - The S Corporation Association

S-CORP OPPOSES EXPORTER TAX INCREASE

Chairman Submits Comments to Tax Writers

S-CORP Chairman Tom McMahon today submitted comments (click here for full text) to the House Ways and Means and Senate Finance Committees opposing a proposed tax increase on small and closely-held exporters. Chairman McMahon observes in his comments:

“I would like to raise serious concerns regarding Section 7 of the Act which, if enacted, would significantly increase taxes on small and closely-held U.S. manufacturing exporters.”

As you’ll recall, the Senate Finance and House Ways and Means Committees introduced companion “tax technical corrections” bills (H.R. 6264 & S. 4026) just before breaking for the elections, requesting that interested …

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Tax Relief Delayed - Pressure for Offsets Grows

Congress returns to legislative business this week following a week long Columbus Day recess. With numerous outstanding issues for Congress to consider before adjourning for the year (possibly by Thanksgiving, but December remains a distinct possibility), the small and family owned business community must continue to be vigilant for any misguided efforts to raise payroll taxes on S Corps and other small businesses.

The first priority of the tax writing committees continues to be legislation to encourage the physical restoration of the areas hit by Hurricane Katrina. Both the Senate Finance Committee and the House Ways and Means Committee are expected …

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S-CORP OPPOSES EXPORTER TAX INCREASE

Tax Relief Delayed - Pressure for Offsets Grows

Tax Relief Delayed - Pressure for Offsets Grows