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Hill Roundtable- Episode 68- Congress Grapples With Tax Overhaul Leftovers

Hill Roundtable- Episode 68- Congress Grapples With Tax Overhaul Leftovers

FromTalking Tax


Hill Roundtable- Episode 68- Congress Grapples With Tax Overhaul Leftovers

FromTalking Tax

ratings:
Length:
11 minutes
Released:
Apr 20, 2018
Format:
Podcast episode

Description

Congressional tax writers are aiming to shore up several tax issues—retooling the Internal Revenue Service, dealing with temporary tax provisions, and requiring online retailers to collect sales tax—left out of the 2017 tax act.

The House just passed a package of bills that would establish an independent Office of Appeals at the IRS, boost cybersecurity, and update online systems. House Ways and Means Committee members also met to discuss the future of temporary tax credits and deductions, with an eye to release a plan by this summer about which should be made permanent and which should be eliminated.

The U.S. Supreme Court also heard oral arguments in South Dakota v. Wayfair, Inc., a case that seeks to undo the court’s 1992 ruling in Quill Corp. v. North Dakota, prohibiting states from collecting sales tax from vendors without an in-state physical presence. The decision, which may come in June, could cause Congress to address the issue, after years of debate about state sales taxes and e-commerce.

The question, as often happens, is how will the Senate react to what the House sends them. Reporters Laura Davison, Allyson Versprille, and Kaustuv Basu spoke with Talking Tax host Matthew Beddingfield on April 20 about the possibility for these tax ideas to gain traction this year.
Released:
Apr 20, 2018
Format:
Podcast episode

Titles in the series (100)

Talking Tax, from Bloomberg Tax, is a weekly discussion of the most pressing issues facing tax and accounting professionals. Each week the podcast features discussions with lawmakers, federal regulators, lawyers, and journalists. From the courts to Capitol Hill to the IRS, Talking Tax has it covered.