Tax Extenders Back on Committee Agendas

Leaders of the two tax-writing committees of Congress are discussing the possibility of taking up tax extenders after Congress returns from its Memorial Day break. House Ways and Means Committee Chairman Richard Neal (D-MA) has been focused on moving a retirement bill and an IRS overhaul measure but Neal said he talked to Senate Finance… Read more »

New Legislation Aims to Repeal UBIT on Fringe Benefits

On May 2, Senators Ted Cruz (R-TX) and Jeanne Shaheen (D-NH) introduced the bipartisan Preserve Charities and Houses of Worship Act to repeal taxes on nonprofit fringe benefit offerings. This legislation, which accompanies a previously introduced bill in the US House of Representatives, would also rescind the requirement that organizations report their unrelated businesses or… Read more »

Tax Day Prompts Barrage of Opinions on GOP Tax Cuts

Lawmakers on both sides of the aisle used Tax Day this week to make varying cases for or against the GOP tax law enacted in 2017. While multiple polls show a majority of Americans don’t think they got a tax cut at all, President Trump paid visits to several swing states this week to try… Read more »

Ways and Means Hearing to Focus on 2017 Tax Law

The House Ways and Means Committee will hold a hearing March 27 on the Republican tax overhaul of 2017. House Democrats have criticized the GOP tax law as disproportionately benefitting corporations and wealthy Americans at the expense of the middle class. Ways and Means Committee Chairman Richard Neal (D-MA) has pointed to reports that taxpayers… Read more »

Walker, Suozzi Introduce UBIT Repeal Bill

Reps. Mark Walker (R-NC) and Tom Suozzi (D-NY) introduced a bill March 5 to repeal the unrelated business income tax on certain employee benefits provided by associations and other tax-exempt organizations. The bill is a companion to legislation introduced last week by Sens. James Lankford (R-OK) and Chris Coons (D-DE). The tax on nonprofit fringe… Read more »