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NEW WAYS AND MEANS COMMITTEE DEMOCRATS ARE ANNOUNCED

While the 109th Congress adjourned last weekend, the Democratic Leadership in the House has been busy this week planning for next year. Speaker-designate Nancy Pelosi has announced nominees for key committees in the House including, of most interest to S-CORP members, the tax-writing Ways and Means Committee.

One of S-CORP’s priorities for 2007 will be to establish constituent relationships with these new committee members, to help further our legislative goals of modernizing S corp rules and blocking unwarranted tax increases. We would very much appreciate your contacting us (at nhawley@vennstrategies.com) if you have a presence in these districts:

B7 Rep. Earl …

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2019-02-06T18:46:06+00:00January 15, 2007|

Senators Gordon Smith and Blanche Lincoln Introduce the BOOST Act!

Congress is back in session, and we’ve got good news! Senators Smith and Lincoln yesterday introduced S. 3857, the “Bringing Opportunities to Our Small-Business Taxpayers (BOOST)” Act. This legislation is designed to help all closely held businesses continue to grow and thrive. For our S-CORP members, the BOOST Act contains an entire section devoted to S-CORP priorities, including provisions to make it easier businesses to convert to S corporation status and provisions to increase S-CORP access to capital by reducing ownership restrictions on S corporations.

Combined with previous bills introduced by Congressman Clay Shaw (H.R. 4421), Congressman Jim Ramstad (H.R. 2239), …

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2019-02-06T18:47:19+00:00September 7, 2006|

S-CORP Marked Key Legislative Successes in 2005, Though Major Battles Loom in 2006

With Congress finally home for the holidays, S-CORP has begun to focus on its 2006 agenda. Before we embark on the year ahead, however, we wanted to take a moment to recap for member companies some of our 2005 milestones. The year was extremely active and largely positive for S-CORP and our members. Among the most noteworthy developments we marked were:

  • Blocking Proposed Payroll Tax Hikes on S Corp Shareholders

As members recall, we began the year with a very real threat to S corporations in the form of two proposals - one from the Treasury Department and another from …

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2019-02-06T18:48:17+00:00December 30, 2005|

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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2019-02-06T18:48:18+00:00October 18, 2005|
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