Tax Break

Tax and accounting this week

January 30, 2012

Some events in the week ahead:

Tuesday, January 31

1. Senate Finance Committee Chairman Max Baucus to convene a hearing to discuss the 50-plus tax provisions that expire annually or biannually, termed “tax extenders.” The Joint Committee on Taxation has estimated that a one-year extension of all would cost $37 billion over the next decade. Witnesses will be:

  • Dr. Rosanne Altshuler, Professor and Chair of the Economics Department, Rutgers University
  • Dr. Jason J. Fichtner, Senior Research Fellow, Mercatus Center, George Mason University
  • Calvin H. Johnson, Andrews & Kurth Centennial Professor of Law, The University of Texas School of Law
  • Caroline L. Harris, Chief Tax Counsel and Director of Tax Policy, U.S Chamber of Commerce

2. The Financial Accounting Standards Board to hold an open meeting with its investors’ technical advisory committee in Norwalk, Connecticut.

3. The Congressional Budget Office to release its annual budget and economic outlook, with director Douglas Elmendorf to testify on it before the House Budget Committee on Feb. 1 and before the Senate Budget Committee on Feb. 2.

4. Two subcommittees of the Multistate Tax Commission, the Income & Franchise Tax Uniformity Subcommittee and Sales & Use Tax Uniformity Subcommittee Meeting, to hold conference calls.

Wednesday, February 1

1. A newly-formed conference committee of  House and Senate negotiators, charged with trying to come up with a compromise on payroll taxes, scheduled to meet.

2.  The Oversight and Select Revenue Measures subcommittees of the House Ways and Means Committee to hold a hearing on the harbor maintenance tax and the tax treatment of foreign shipping operations.

Friday, February 3

1. San Jose State University hosting a tax policy conference on federal and California tax reform proposals and their prospects in Santa Clara, California.

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