Monthly Archives: August 2010

The Treasury Department is projecting the U.S. will run a record deficit of $1.47 trillion for fiscal year 2010, eclipsing last year’s record of $1.42 trillion. Continue reading →

The Senate reconvened briefly today to pass by unanimous consent a $600 million bill to increase security along the U.S.-Mexico border, but faces a much more crowded agenda when it returns from the August recess. Continue reading →

The IRS last week reminded tax-exempt employers about another provision in the health care reform bill that requires them to report the value of the health insurance coverage they provide on each employee’s annual Form W-2 beginning in tax year 2011.

According to the IRS, this reporting is for informational purposes only, to show employees the value of their health care benefits so they can be more informed consumers. Continue reading →

ASAE is circulating a sign-on letter this week to its grassroots advocates that calls for Congress to repeal new Form 1099 reporting requirements in the health care reform bill that would prove burdensome for associations and other small businesses. Continue reading →

Businesses have hired an estimated 5.6 million new workers who had been previously unemployed over the past five months, making them eligible for an estimated $10.4 billion in tax savings under the Hiring Incentives to Restore Employment (HIRE) Act. Continue reading →

Last Thursday, the House Financial Services Committee approved H.R. 4790, The Shareholder Protection Act of 2010, by a vote of 35 to 28. The legislation is a second response by the Democratic leadership to the Citizens United v. FEC case, which the Supreme Court decided earlier this year. No Republicans supported the bill, and they were joined by three Democrats in opposition. Continue reading →

ASAE submitted comments Tuesday on new regulations for existing health insurance plans that want to retain their “grandfathered” status. View the comments and the regulations. Continue reading →

ASAE submitted comments Tuesday on new regulations for existing health insurance plans that want to retain their “grandfathered” status. View the comments and the regulations. Continue reading →

A majority of House members last week agreed that new Form 1099 reporting requirements were onerous for small businesses and tax-exempt organizations, but could not agree on how best to pay for repealing them. Continue reading →

The House passed a bill by voice vote July 28 to establish a new Justice Department task force to investigate and prosecute violations of the Lobbying Disclosure Act (LDA). Continue reading →