Taxwriting subcommittees announce hearings on Biden tax priorities
Two congressional taxwriting subcommittees this week announced plans to hold hearings on specific tax priorities included in President Biden’s infrastructure packages: addressing taxpayer noncompliance to close the “tax gap” and reshaping tax code provisions that he believes unfairly benefit upper-income taxpayers. (See separate coverage in this issue for the latest developments on the president’s infrastructure proposals.)
Tax gap
The Senate Finance Subcommittee on Taxation and IRS Oversight will consider issues around “Closing the Tax Gap: Lost Revenue from Noncompliance and the Role of Offshore Tax Evasion” at a hearing scheduled for May 11.
Witnesses will include Barry Johnson, acting chief research and analytics officer at the Internal Revenue Service; Doug O’Donnell, IRS Deputy Commissioner for services and enforcement; J. Russell George, the Treasury inspector general for tax administration; Nina Olson, executive director of the Center for Taxpayer Rights; and Charles Rossotti, a former IRS commissioner.
Tax treatment of upper-income taxpayers
Across the Capitol, the House Ways and Means Select Revenue Measures Subcommittee will hold a hearing on “Funding Our Nation’s Priorities: Reforming the Tax Code’s Advantageous Treatment of the Wealthy” on May 12.
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