Sen. Orrin Hatch’s (R-UT) retirement frees up a coveted post as chairman of the Senate Finance Committee, which has jurisdiction over issues impacting the tax-exempt community. Hatch, who earlier this week announced his decision to step down at the end of 2018, has just helped to enact the first major overhaul of the tax code… Read more »
Posts Tagged: Senate Finance
Senate Majority Leader Harry Reid (D-NV) indicated this week that the expired extenders will likely be delayed until November. When asked a press conference if extenders will be delayed until election, Reid said “I guess the answer is ‘yes.’” Extenders are currently stalled in the Senate due to a fight over an amendment on potential… Read more »
Two Senate bills to repeal the new 1099 reporting requirements are expected to be voted upon as early as next Monday.
Senator Max Baucus (D-MT), chair of the Senate Finance Committee, pledged on Friday to introduce legislation that would repeal the expanded 1099 reporting requirement contained in the health care bill, according to the National Journal. The Patient Protection and Affordable Care Act (PPACA) contained a provision (passed by the Senate Finance Committee) that would expand… Read more »
Senator Charles Schumer (D-NY) intends to add another provision to the tax extenders legislation that could further impact charities. The American Jobs, Closing Tax Loopholes, and Preventing Outsourcing Act of 2010 (H.R.4213) already includes an extension of the IRA Charitable Rollover provision until December 31, 2010. The provision allows individuals over 70 to contribute up… Read more »