Draft plan from the House Ways and Means Committee
The U.S House of Representatives Committee on Ways and Means Chairman Dave Camp (R-MI) recently released a legislative proposal designed to create a simplified and equitable tax code for small businesses. Accompanying the proposal, the Chairman also released a set of incremental changes to partnerships and S corporations, and extensions to expensing rules which would allow more businesses to use cash accounting and simplify deductions for startups.
Public comments will be accepted through Monday, April 15, 2013. All comments will be included in a final Joint Committee on Taxation report which will be delivered to the Ways and Means Committee on Monday, May 6, 2013. The process for submitting comments is below. AIA is requesting that member companies interested in this proposal comment directly to the committee using the procedures below:
Submit comments via email to: email@example.com; in the subject line of the email, please indicate “Comments: Stakeholder”; attach submissions as a Word document; include in the body of the email a contact name, physical address, phone number and email address; for questions, or if you encounter technical problems, please call (202) 225-3625 or (202) 225-1721.