Last week, S.2320, a bill that would create Universal Savings Accounts in the federal tax code, was referred to the Senate Finance Committee. The bill, sponsored by Senator Jeff Flake and Representative Dave Brat, would allow Americans age 18 or older to open an account to which they could contribute $5,500 of after-tax money. Show More Summary
Release: In a letter sent today, reform groups strongly urged senators and representatives to reject damaging campaign finance riders that have been attached to pending House and Senate Appropriations Committee bills and to oppose any new campaign finance riders that … Continue reading ?
When Russell Long came to the U.S. Senate and joined the Finance Committee, legend has it, he voted against every motion, no matter how noncontroversial. Eventually, a more senior senator asked him why. Long reportedly answered: "I'm...Show More Summary
It's been quite a day for John Koskinen. The Internal Revenue Service commissioner appeared before a Senate Finance Committee hearing this morning to discuss that panel's final report, after almost 2½ years, on the tax agency's mishandling of ostensibly political groups' requests for 501(c)(4) tax-exempt status. Show More Summary
The Senate Finance Committee has some questions for Volkswagen. Chairman Orrin Hatch and Ranking Member Ron Wyden sent the German automaker a letter yesterday. They asked about the “defeat devices” VW used to help its diesel passenger cars meet IRS requirements for the advanced lean-burn technology motor vehicle credit. Show More Summary
Senate Finance Committee Chair Orrin Hatch (R-Utah) and Ranking Member Ron Wyden (D-Oregon) sent a letter Tuesday to Volkswagen asking whether the automaker defrauded the IRS in obtaining federal tax credits despite the installation of “defeat devices” in diesel passenger cars. Accounting Today Forbes Fortune Roll Call
WASHINGTON -- Sen. Ron Wyden (D-Ore.), the top Democrat on the Senate Finance Committee, wants the Treasury Department to hit Volkswagen with steep penalties for possibly lying to the federal government to receive clean energy tax breaks...Show More Summary
The Senate Finance Committee has issued a letter to Volkswagen AG and Volkswagen Group of America as an effort to investigate whether the company "made false representations to the U.S. government in its certification for federal tax subsidies."
WASHINGTON -- Senate Finance Committee Chairman Orrin Hatch (R-Utah) and ranking member Ron Wyden (D-Ore.) want to know if Volkswagen lied to the federal government in order to secure tax credits for vehicles that did not actually meet...Show More Summary
WASHINGTON (AP) — The Senate Finance Committee opened a probe Tuesday into Volkswagen's use of a federal tax credit intended for fuel-efficient cars as the company's emissions-rigging scandal widened. Volkswagen's use of "defeat devices" in diesel passenger cars raises the question of whether the automaker "made false representations to the U.S. Show More Summary
Senate panel probing VW's use of tax credits WASHINGTON (AP) — The Senate Finance Committee has opened an investigation into Volkswagen's use of a federal tax credit intended for fuel-efficient cars as the company's emissions-rigging scandal widens.
US Senate Finance Committee Chairman Orrin Hatch said that the TPP trade deal "is an achievement...only if it works for the American people" and can meet the "high-standard objective laid out in bipartisan Trade Promotion Authority....
This week's Senate Finance Committee hearing on Puerto Rico's financial and economic challenges brought overdue attention to the island's inadequate Medicaid funding. Unlike the 50 states and the District of Columbia, Puerto Rico isShow More Summary
On the Hill… The Senate and House passed funding bills to keep the government open through December 11, with just the usual minutes to spare. Now that that’s taken care of, the Senate Finance Committee holds a hearing today on improper payments in federal programs. Show More Summary
The Senate Finance Committee held a hearing yesterday on Financial and Economic Challenges in Puerto Rico. In connection with the hearing, the Joint Committee on Taxation released Federal Tax Law And Issues Related To The Commonwealth Of Puerto Rico (JCX-132-15): This document... provides an overview and analysis of Federal...
The officials, who have said that their government would soon run out of cash, will tell the Senate Finance Committee why the island may need federal assistance.
Next week on the Hill… Maybe a shutdown, maybe not, and also a couple of Senate Finance Committee hearings. On Tuesday, the panel will hold a hearing on Puerto Rico’s debt crisis. On Thursday, it will consider improper payments made through federal programs including Medicare, Medicaid, and the Earned Income Tax Credit. Show More Summary
The hearing originally announced by Senate Finance Committee Chairman Orrin Hatch (R-UT) and Ranking Member Ron Wyden (D-OR) to mark up an original bipartisan bill to curb identity theft and tax refund fraud on today, Wednesday, September 16, has been postponed.
The Senate Finance Committee holds an Open Executive Session today at 10:00 EST to consider an Original Bill to Prevent Identity Theft and Tax Refund Fraud. Among the bill's twenty provisions is a grant of authority to the Treasury Department and the IRS authority to regulate paid tax return preparers...
As the Senate Finance Committee tackles the question of licensing tax preparers, the world’s largest member association representing the accounting profession weighs in.