Thursday, April 17, 2014
The House Ways and Means Committee held a hearing last week to discuss the perennial issue of the tax extenders, the temporary tax provisions that expire year after year and are usually renewed. However, dozens of provisions that expired at the end of last year have yet to be renewed by Congress and may not be extended if lawmakers can’t agree on which ones to keep (see Congressional Tax Writers Clash on Paying to Extend U.S. Corporate Breaks). This is occurring against the backdrop of the tax reform discussion draft that Ways and Means Committee chairman Dave Camp, R-Mich., released in February, and tax extenders legislation that recently was passed by the Senate Finance Committee.