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Tax Law Roundup current law developments in U.S. taxation

Tag Archives: Camp

Rep. Camp Introduces Small Business/Pass-through Tax Reform

Posted in Legislative, Partnership/LLC, Passthrough Entity, S corporation, Tax reform

Rep. Camp (R-MI), Chair of the House Ways and Means Committee, introduced a discussion draft of tax reform proposals for small business, mostly addressing pass-through entity taxation.  Rep. Levin (D-MI) issued a statement noting that many of the Camp proposals have bi-partisan support.  The proposal also includes two alternative reform proposals for partnerships and S… Continue Reading

Ways and Means Releases Discussion Draft of Financial Product Tax Reform

Posted in Financial Products, General, Legislative, Tax reform

  On January 24 the chair of the House Ways & Means Committee released proposals to reform the taxation of financial products.  The reforms include: Mark-to-market taxation for speculative financial investments.  Specifically the draft would require taxpayers engaged in speculative financial activity—but not business hedging against common risks—to mark certain financial derivative products to fair… Continue Reading