House Ways and Means Committee Chairman Kevin Brady (R-TX) said July 18 he plans on releasing an outline of his “Tax Reform 2.0” package next week. Brady’s outline is expected to include a number of tax bills that could be passed at the same time this fall, including a measure to make permanent some of… Read more »

Funding to implement the Labor Department’s new rule expanding access to association health plans (AHPs) is not included in appropriations bills approved recently by House and Senate committees. The Labor Department’s regulation was finalized in June, allowing more groups to form AHPs as an alternative to the Affordable Care Act health exchanges. Under the final… Read more »

Senate Finance Committee Chairman Orrin Hatch (R-UT) postponed a vote on President Trump’s nominee to helm the IRS after Democrats protested the administration’s decision earlier this week to scrap donor disclosure requirements for most nonprofits. Hatch said the committee will reconvene and vote later today, once he is assured that enough committee Republicans show up… Read more »

Treasury officials announced this week that the IRS will no longer require tax-exempt organizations other than charities to disclose information about their donors as part of their annual returns. Congress in the 1960s directed the IRS to collect donor information from 501(c)(3) charities that accept tax-deductible contributions. The policy provided the IRS information that could… Read more »

The House Ways and Means Committee today continued its markup of various health care-related tax bills that are “aimed at expanding consumer-directed health care and lowering premiums.” Yesterday the committee approved three bills that would expand access and use of health savings accounts (HSAs) to cover needed services. One bill (H.R. 6301), sponsored by Reps…. Read more »

The United States Trade Representative (USTR) is seeking public comment on the latest round of tariffs on Chinese imports implemented by the Trump administration. Business leaders are concerned that the trade tariff policies implemented by the Trump administration are likely to trigger a global trade war that will hit U.S. industries and consumers hard. The… Read more »

The Las Vegas Metro Chamber of Commerce announced recently it plans to be among the first business groups to take advantage of the Department of Labor’s (DOL) final rule expanding association health plans (AHPs). The Las Vegas chamber hopes to start an AHP for Nevada small businesses and sole proprietors by Sept. 1, according to… Read more »

ASAE and other members of the UBIT Coalition continue to urge the Treasury Department to retroactively delay implementation of a provision in the new tax law that taxes transportation and parking benefits provided by many employers. The fringe benefits provision removes a deduction for employer-provided benefits such as transportation, parking and on-premises athletic facilities. In… Read more »

Business leaders are warning that the trade tariff policies implemented by the Trump administration are likely to trigger a global trade war that will hit U.S. industries and consumers hard. The White House has pledged to implement tariffs on $34 billion in Chinese products on Friday, and the Chinese government said this week it has… Read more »

Significant cuts to the IRS’s budget over the years combined with the need to implement the 2017 tax law have stretched the IRS critically thin, according to National Taxpayer Advocate Nina Olson. Olson released her mandated mid-year report to Congress last week that included a review of the 2018 filing season and a list of… Read more »

Category: IRS