Senate Majority Leader Reid Seeks to Limit Debate, Pass Tax Extenders Legislation by Week’s End

Senate Majority Leader Harry Reid (D-Nev.) filed a motion June 14 to invoke cloture on the tax extenders bill (H.R. 4213) in an effort to complete the…

Carried Interest Tax Hike Passes House in Tax Extenders Bill; Senate Outlook Unclear

The House voted 215-204 May 28 to extend dozens of popular tax cuts through the end of 2010 and raise taxes on investment fund managers and businesses with foreign income…

Final Details Being Hashed out on Tax Extenders Bill, House Lawmakers Say

House Ways and Means Committee Chairman Sander Levin (D-Mich.) shortened the time frame for consideration of a final tax extenders measure (H.R. 4213), telling reporters May 6 that it will be on the floor within…

Manufacturing Deduction Impacted in Years New Net Operating Loss Carryback Used, IRS Officials Say

Taxpayers who claim the newly enacted five-year net operating loss carryback should be careful about the impact if they carry back their losses to any year in which they also claimed the manufacturing deduction under…

National Digital Tax Regime, Long-Term R&E Credit Called for in FCC Broadband Proposal

A federal framework for taxing digital goods and services would improve tax certainty and promote online entrepreneurship and investment, the Federal Communications Commission said in…

Senate Moves to Codify Economic Substance Doctrine in Passing One-Year Extension of Tax Breaks

The Senate March 10 passed, 62-36, a one-year extension of $31 billion in popular tax breaks, while permanently codifying the economic substance doctrine and…

Senate to Bring $31 Billion Tax Extenders Measure to Floor During Week of March 1

Senate Democratic leaders announced Feb. 26 that they will bring a long-awaited bill featuring $31 billion in extensions of expired tax cuts to the Senate floor during the week of March 1.

Senate Majority Leader Reid’s Jobs Bill Gets Lackluster Reviews; Some Prefer Extending 2001, 2003 Tax Laws

Longer-term policies that give small businesses additional certainty about the tax climate in coming years may be better for the economy than…

Senator Grassley to Move Delayed Tax Extenders as Alternative or Amendments to Jobs Bill

Sen. Charles Grassley (R-Iowa) will attempt to move extenders—which Senate Majority Leader Harry Reid (D-Nev.)