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Donald Sager

Brady Expects “Phase Two” Tax Reform Outline by August

Brady Expects “Phase Two” Tax Reform Outline by August A “phase two” tax reform outline could be unveiled by House GOP tax writers by August. Republicans have started to increase their tax meetings related to the effort, House Ways and Means Committee Chairman Kevin Brady, R-Tex., told reporters on June 13. Tax Reform “2.0” Timeline The precise timing of […]

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Wayne Naegele

Senate, House Lawmakers Introduce Bipartisan Historic Rehabilitation Credit Bill

Senate, House Lawmakers Introduce Bipartisan Historic Rehabilitation Credit Bill A bipartisan group of House and Senate lawmakers have introduced companion Historic Rehabilitation Tax Credit (HTC) bills. The measure aims to strengthen the HTC by encouraging investment and minimizing administrative burdens, according to the lawmakers. Rehabilitation Credit As amended by the Tax Cuts and Jobs Act […]

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Lisa Varela

Ways and Means Approves IRS Hiring, Agriculture Tax Reform Bills

Ways and Means Approves IRS Hiring, Agriculture Tax Reform Bills House tax writers have moved two bills through committee. The bills focus on IRS hiring and the tax treatment of mutual ditch irrigation companies. The House Ways and Means Committee approved the measures in a June 21 markup. IRS Hiring The Ensuring Integrity in the […]

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Wayne Naegele

ABA Section of Taxation Writes Hatch, Wyden About IRS Reform

ABA Section of Taxation Writes Hatch, Wyden About IRS Reform The American Bar Association (ABA) Section of Taxation has expressed concerns to top Senate tax writers about certain congressional IRS reform efforts. The ABA Section of Taxation sent a June 6 letter to Senate Finance Committee (SFC) Chairman Orrin G. Hatch, R-Utah and ranking member […]

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Wayne Naegele

Railroad Stock Options Are Not Money Remuneration Under RRTA

Railroad Stock Options Are Not Money Remuneration Under RRTA The U.S. Supreme Court has determined that nonqualified employee stock options are not taxable compensation under the Railroad Retirement Tax Act (RRTA). The term “money remuneration” in the Act unambiguously excludes “stock.” Background Several railroads filed a refund claim for overpaid Railroad Retirement taxes. The railroads claimed they overpaid […]

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