Taxation

Healthy Food Financing Initiative Reauthorization Act of 2023

United States · United States Congress · 9 March 2023

Healthy Food Financing Initiative Reauthorization Act of 2023 This bill reauthorizes and provides specified funds for the Department of Agriculture's Healthy Food Financing Initiative through FY2028 and for each fiscal year thereafter. (This program provides capacity building and financial resources to eligible healthy food retailers and food supply chain enterprises to assist them in overcoming the high costs and initial barriers to entry in underserved areas.)

Property Tax Reduction Act of 2023

United States · United States Congress · 9 March 2023

Property Tax Reduction Act of 2023 This bill reduces federal Medicaid funding beginning in FY2025 for certain states that require political subdivisions to contribute funds towards medical assistance. Specifically, the bill applies to states that received, for FY2023, disproportionate share hospital (DSH) allotments greater than six times the national average. (DSHs are hospitals that receive additional payment under Medicaid for treating a large share of low-income patients.) Excepted from the bill are contributions that: (1) are required from a political subdivision that has a population greater than 5 million and imposes a local income tax upon its residents, or (2) were required for administrative expenses as of January 1, 2023.

Unauthorized Spending Accountability Act of 2023

United States · United States Congress · 9 March 2023

Unauthorized Spending Accountability Act of 2023 This bill establishes a three-year budgetary level reduction schedule for unauthorized programs funded through the annual appropriations process. Under the bill, a budgetary level is an allocation provided to the congressional appropriations committees under Section 302(a) of the Congressional Budget Act of 1974 by a congressional budget resolution or a deeming resolution. The schedule applies to programs included in the Congressional Budget Office's annual report listing programs that are funded through the appropriations process and have an authorization of appropriations that has either expired or will expire during the year. For the first year after a program's authorization has expired, the bill requires the budgetary level to be reduced by 10% of the funds appropriated for the program in the expiring fiscal year. The bill then requires reductions of 15% in the second and third years before terminating the program at the end of the third unauthorized year. Programs that are reauthorized during the three-year period are exempt from the budgetary level reductions if the reauthorization contains a sunset provision limiting the authorization of appropriations period to no more than three years. The bill establishes the Spending and Accountability Commission to review all mandatory spending programs and submit to Congress a legislative proposal to establish an authorization cycle for discretionary spending programs. The commission may recommend legislation to replace the budgetary level reductions required by this bill with reductions in mandatory spending. The commission's reauthorization schedule must limit reauthorizations to three years, include the budgetary level reductions established by this bill, and establish a mechanism for replacing the budgetary level reductions with reductions to mandatory spending programs. The House of Representatives must consider the commission's proposal using specified expedited legislative procedures.

CBO Show Your Work Act

United States · United States Congress · 9 March 2023

CBO Show Your Work Act This bill requires the Congressional Budget Office (CBO) to make available to Congress and the public each fiscal model, policy model, and data preparation routine that the CBO uses to estimate the costs and other fiscal, social, or economic effects of legislation. For each estimate of the costs and other fiscal effects of legislation, the CBO must also disclose, in a manner sufficient to permit replication by individuals not employed by the CBO, the data, programs, models, assumptions, and other details of the computations used to prepare the estimate. For data that may not be disclosed, the CBO must make available to Congress and the public a complete list of all data variables for the data; descriptive statistics for all data variables for the data, to the extent that the descriptive statistics do not violate the rule against disclosure; a reference to the statute requiring that the data not be disclosed; and contact information for the individual or entity who has unrestricted access to the data.

End Oil and Gas Tax Subsidies Act of 2023

United States · United States Congress · 9 March 2023

End Oil and Gas Tax Subsidies Act of 2023 This bill limits or repeals certain fossil fuel oil and gas subsidies for oil companies. Specifically, it increases to seven years the amortization period for geological and geophysical expenditures; repeals the tax credits for producing oil and gas from marginal wells and for enhanced oil recovery; repeals the tax deduction for the intangible drilling and development costs of oil and gas wells; repeals percentage depletion; repeals the tax deduction for tertiary injectant expenses; repeals the passive loss exception for working interests in oil and gas property; denies the tax deduction for income attributable to domestic production activities for oil and gas activities; prohibits the use of the last-in, first-out (LIFO) accounting method by major integrated oil companies; limits the foreign tax credit for dual capacity taxpayers (i.e., taxpayers who are subject to a levy of a foreign country or U.S. possession and receive specific economic benefits from such country or possession); and expands the definition of crude oil for purposes of the excise tax on petroleum and petroleum products to include any oil derived from a bitumen or bituminous mixture (tar sands), and any oil derived from kerogen-bearing sources (oil shale).

Hurricane Tax Relief Act

United States · United States Congress · 9 March 2023

Hurricane Tax Relief Act This bill modifies tax rules relating to personal casualty losses for taxpayers affected by Hurricanes Ian, Nicole, and Fiona. It eliminates the requirements that such taxpayers must itemize their tax deductions as a condition of eligibility for relief and that their losses exceed 10% of their adjusted gross income. The bill applies these modified requirements to residents of Puerto Rico affected by the Hurricanes.

REVOKE Act of 2023

United States · United States Congress · 9 March 2023

Restricting Electric Vehicle Outlays from Kleptomaniac Enemies Act of 2023 or the REVOKE Act of 2023 This bill expands prohibitions under the clean vehicle tax credit on battery components manufactured or assembled by a foreign entity of concern to a domestic corporation that is controlled by, operated by, or under the substantial influence of a foreign entity of concern (e.g., a state-backed Chinese company); a domestic corporation that relies on technology provided through a licensing agreement with a foreign entity of concern; a foreign corporation organized outside of China, Russia, North Korea, and Iran but that is owned more than 20% by 1 or more foreign entities of concern; or any member or partner of a joint venture or partnership in which at least one other partner or member is a foreign entity of concern. The bill also renders ineligible for the qualifying advanced energy project tax credit any project that incorporates or utilizes technology provided through a licensing agreement with the foreign entities of concern described by this bill.

TELEHEALTH HSA Act of 2023

United States · United States Congress · 9 March 2023

Telemedicine Everywhere Lifting Everyone's Healthcare Experience And Long Term Health HSA Act of 2023 or the TELEHEALTH HSA Act of 2023 This bill makes permanent the preferred treatment of telehealth and other remote care services for purposes of health savings accounts.

No Tax Breaks for Union Busting (NTBUB) Act

United States · United States Congress · 9 March 2023

No Tax Breaks for Union Busting (NTBUB) Act This bill denies employers a tax deduction for any expenditures incurred for attempting to influence their employees with respect to labor organizations or labor organization activities, such as elections, labor disputes, and collective actions. The bill requires employers to report on their attempts to influence their employees with respect to labor organizations and their activities.

Hurricane Tax Relief Act

United States · United States Congress · 9 March 2023

Hurricane Tax Relief Act This bill modifies tax rules relating to personal casualty losses for taxpayers affected by Hurricanes Ian, Nicole, and Fiona. It eliminates the requirements that such taxpayers must itemize their tax deductions as a condition of eligibility for relief and that their losses exceed 10% of their adjusted gross income. The bill applies these modified requirements to residents of Puerto Rico affected by the Hurricanes.

Healthy Food Financing Initiative Reauthorization Act of 2023

United States · United States Congress · 9 March 2023

Healthy Food Financing Initiative Reauthorization Act of 2023 This bill reauthorizes and provides specified funds for the Department of Agriculture's Healthy Food Financing Initiative through FY2028 and for each fiscal year thereafter. (This program provides capacity building and financial resources to eligible healthy food retailers and food supply chain enterprises to assist them in overcoming the high costs and initial barriers to entry in underserved areas.)

Financing Lead Out of Water Act of 2023

United States · United States Congress · 9 March 2023

Financing Lead Out of Water Act of 2023 This bill allows the issuance of tax-exempt private activity bonds to finance the replacement of any privately-owned portion of a lead service line in a public water system. Specifically, the bill provides that the use of proceeds from such bonds for replacement of a lead service line does not constitute private business use.

Sustainable Budget Act of 2023

United States · United States Congress · 9 March 2023

Sustainable Budget Act of 2023 This bill establishes the National Commission on Fiscal Responsibility and Reform within the legislative branch to identify policies to improve the fiscal situation in the medium term and achieve fiscal sustainability over the long term. The commission must propose recommendations that (1) are designed to balance the budget, excluding interest payments on the debt, within 10 years; and (2) meaningfully improve the long-term fiscal outlook, including changes to address the growth of entitlement spending and the gap between projected federal revenues and expenditures. Congress must consider the commission's recommendations using specified expedited legislative procedures.

Tax Fairness for Workers Act

United States · United States Congress · 9 March 2023

Tax Fairness for Workers Act This bill allows an above-the-line tax deduction for union dues and expenses. (An above-the-line deduction is subtracted from gross income and is available whether or not a taxpayer itemizes other deductions.) The bill also reinstates the miscellaneous itemized tax deduction for unreimbursed expenses attributable to the performance of services as an employee (Under current law, all miscellaneous itemized deductions are suspended through 2025).

A concurrent resolution supporting the Local Radio Freedom Act.

United States · United States Congress · 9 March 2023

This concurrent resolution declares that Congress should not impose any new performance fee, tax, royalty, or other charge relating to the public performance of sound recordings on a local radio station for broadcasting sound recordings over the air or on any business for such public performance of sound recordings.

Clear and Concise Content Act of 2023

United States · United States Congress · 8 March 2023

Clear and Concise Content Act of 2023 This bill requires the use of plain writing when the federal government provides information about benefits and services. The Office of Management and Budget (OMB) must rescind outdated guidance and issue new guidance for the creation, maintenance, and use of covered content at agencies. Covered content means any content that is necessary for obtaining a federal benefit or service or for filing taxes or that provides information about such benefit or service; federal agency operations, policies, or guidance of material importance to, and posted publicly by, the agency; how to interact with or provide feedback to an agency regarding its operations, policies, or guidance; or how to navigate or interact with an agency website, digital service, or office. The OMB must report not less frequently than every two years to Congress on this bill's implementation. The OMB shall make such reports available on a public website and maintain the reports as open government data assets. The bill incorporates plain writing requirements into statutory provisions pertaining to new websites and digital services.

Opposing a national sales tax on working families and supporting a tax cut to benefit the middle class.

United States · United States Congress · 8 March 2023

This resolution opposes the enactment of a national sales tax, supports the passage of a responsible tax cut, and opposes paying for any tax cuts with cuts to Social Security, Medicare, or Medicaid, or cuts to pay and benefits for servicemenbers, veterans, or law enforcement.

PPP Shell Company Discovery Act

United States · United States Congress · 8 March 2023

PPP Shell Company Discovery Act This bill requires the Internal Revenue Service (IRS) to compile a list of Paycheck Protection Program (PPP) loan recipients whose loans were forgiven under the program. Additionally, the IRS must compile (1) a list of such loan recipients who did not withhold payroll taxes in 2019, and (2) a list of loan such recipients for which the aggregate amount of PPP loans exceeded four times the greatest amount of wages paid by the recipient during a calendar month in 2019. The IRS must notify the Department of Justice when the lists are complete.

Freedom To Invest in Tomorrow's Workforce Act

United States · United States Congress · 8 March 2023

Freedom To Invest in Tomorrow's Workforce Act This bill allows the use of funds in a qualified tuition program (commonly known as a 529 account) to pay for expenses associated with obtaining or maintaining recognized postsecondary credentials.

Modern, Clean, and Safe Trucks Act of 2023

United States · United States Congress · 8 March 2023

Modern, Clean, and Safe Trucks Act of 202 3 This bill repeals the 12% excise tax on the retail sale of heavy trucks and trailers.

WRCR Act of 2023

United States · United States Congress · 8 March 2023

Worker Relief and Credit Reform Act of 2023 or the WRCR Act of 2023 This bill modifies the earned income tax credit to (1) make the credit available to certain students, (2) modify the age requirement for the credit, (3) include care-giving and learning as compensated work for purposes of the credit, (4) revise the definition of qualifying dependents eligible for the credit, (5) increase the credit for certain unmarried individuals with two or more qualifying children, and (6) require the Internal Revenue Service (IRS) to establish a program for making direct advance monthly payments of the credit to eligible taxpayers. The bill directs the IRS to establish a program to educate taxpayers about the availability of the earned income tax credit and the advance monthly payments of such credit.

Dollar-for-Dollar Deficit Reduction Act

United States · United States Congress · 8 March 2023

Dollar-for-Dollar Deficit Reduction Act The bill establishes a framework to require legislation that increases or suspends the public debt limit to include spending reductions that are equal to or greater than the projected increase in debt that will occur under the legislation. The bill allows the spending reductions to be phased in over the period that includes the current and next 10 fiscal years. Specifically, the bill requires the Department of the Treasury to notify the House Ways and Means Committee and the Senate Finance Committee when it determines that the federal government will reach the debt limit within 60 days without the implementation of extraordinary measures. The notification must also indicate when extraordinary measures may be necessary to prolong the funding of the federal government in the absence of a debt limit increase. In addition, the bill requires any formal presidential request to increase the debt limit to include (1) the amount of the proposed increase, and (2) proposed legislation to reduce spending by an amount that is equal to or greater than the amount of the requested increase. Finally, the bill establishes budget points of order that may be raised in the House of Representatives and the Senate against legislation that increases or suspends the debt limit and does not contain net spending reductions that are equal to or greater than the increase in the debt that will occur under the legislation.

A bill to repeal the provisions of the Infrastructure Investment and Jobs Act that impose new information reporting requirements with respect to digital asset transfers.

United States · United States Congress · 8 March 2023

This bill repeals provisions of the Infrastructure Investment and Jobs Act with respect to the definition of broker and reporting requirements for digital assets.

Modern, Clean, and Safe Trucks Act of 2023

United States · United States Congress · 8 March 2023

Modern, Clean, and Safe Trucks Act of 202 3 This bill repeals the 12% excise tax on the retail sale of heavy trucks and trailers.

Freedom To Invest in Tomorrow's Workforce Act

United States · United States Congress · 8 March 2023

Freedom To Invest in Tomorrow's Workforce Act This bill allows the use of funds in a qualified tuition program (commonly known as a 529 account) to pay for expenses associated with obtaining or maintaining recognized postsecondary credentials.

Coast Guard Combat-Injured Tax Fairness Act

United States · United States Congress · 8 March 2023

Coast Guard Combat-Injured Tax Fairness Act This bill extends a tax benefit related to combat-related severance pay to veterans of the Coast Guard. Specifically, severance pay amounts that were withheld for tax purposes from veterans with combat-related injuries must be restored to veterans of the Coast Guard.

DEPARTMENT OF DEFENSE AUTHORIZATION REQUEST FOR APPROPRIATIONS FOR FISCAL YEAR 2024 AND THE FUTURE YEARS DEFENSE PROGRAM

United States · United States Senate · 7 March 2023

Financing Lead Out of Water Act

United States · United States Congress · 7 March 2023

Financing Lead Out of Water Act of 2023 This bill allows the issuance of tax-exempt private activity bonds to finance the replacement of any privately-owned portion of a lead service line in a public water system. Specifically, the bill provides that the use of proceeds from such bonds for replacement of a lead service line does not constitute private business use.

VETT Act

United States · United States Congress · 7 March 2023

VSO Equal Tax Treatment Act or the VETT Act This bill expands the deductibility of charitable contributions to all federally-chartered tax-exempt organizations serving current and former members of the Armed Forces.

PARTNER with ASEAN Act

United States · United States Congress · 7 March 2023

Providing Appropriate Recognition and Treatment Needed to Enhance Relations with ASEAN Act or the PARTNER with ASEAN Act This bill establishes that the Association of Southeast Asian Nations (ASEAN) shall be covered by the International Organizations Immunities Act, which provides immunities and privileges to certain international organizations, such as immunity from certain lawsuits and exemption from property taxes. (ASEAN is Southeast Asia's primary multilateral organization. It has 10 member nations, including Brunei, Indonesia, Singapore, and Vietnam.)

Landlord Accountability Act of 2023

United States · United States Congress · 7 March 2023

Landlord Accountability Act of 2023 This bill prohibits housing discrimination based on income, provides protections to tenants of certain federally assisted housing, and establishes a low-income housing maintenance tax credit for eligible landlords. Specifically, the bill prohibits discrimination in rental housing and residential real estate transactions based on an individual's source of income and provides for penalties. Protected income sources include housing vouchers and rental assistance, rental and homeownership subsidies, Social Security and disability income assistance, and spousal and child support. Additionally, landlords are prohibited from taking or failing to take certain actions with the intent to make a unit ineligible to receive Department of Housing and Urban Development (HUD) assistance. Landlords that violate this prohibition are subject to penalties and may be sued by harmed tenants. The bill further prohibits property owners of certain multifamily housing projects from intentionally leaving a unit vacant for more than 60 days. Property owners that violate this prohibition are subject to penalties. The bill also provides protections to tenants of multifamily housing projects, including by requiring HUD to increase the staffing level for the Multifamily Housing Complaint Line and to create a Multifamily Housing Complaint Resolution Program. In addition, HUD may provide grants to develop, expand, and assist tenant harassment prevention programs. Finally, the bill establishes a tax credit for qualifying landlords that is equal to the landlord's annual low-income housing maintenance expenses. To qualify, a landlord must have addressed within 30 days any relevant complaints filed under the complaint resolution program.

Middle Class Mortgage Insurance Premium Act of 2021

United States · United States Congress · 7 March 2023

Middle Class Mortgage Insurance Premium Act of 2021 This bill increases the adjusted gross income threshold for the phaseout of the mortgage insurance premium tax deduction and makes such deduction permanent.

Improving Child Care for Working Families Act of 2023

United States · United States Congress · 7 March 2023

Improving Child Care for Working Families Act of 2023 This bill increases the limitation on the exclusion from employee gross income for employer-paid dependent care assistance from $5,000 to $10,500.

Keep Innovation in America Act

United States · United States Congress · 7 March 2023

Keep Innovation in America Act This bill modifies provisions enacted by the Infrastructure Investment and Jobs Act relating to the definitions of broker and digital assets and their reporting requirements. The bill redefines broker , for tax reporting purposes, to mean any person who (for consideration) stands ready in the ordinary course of business to effect sales of digital assets at the direction of their customers. The bill redefines digital asset to mean any digital representation of value which is recorded on a cryptographically secured distribution ledger (this revised definition eliminates the discretion of the Department of the Treasury to include similar technology in the definition of digital asset). The bill eliminates the cash reporting requirement for digital assets (i.e., receipt of more than $10,000) but requires Treasury, in consultation with the Financial Crimes Enforcement Network and other representatives of the digital asset industry, to conduct a study of, and report on, the effect of expanding the definition of cash to include any digital asset.

DASH Act

United States · United States Congress · 7 March 2023

Decent, Affordable, Safe Housing for all Act or the DASH Act This bill provides grants, loans, tax credits, and other assistance to promote the building, maintenance, and affordability of housing. Specifically, the bill requires the Department of Housing and Urban Development to (1) provide housing vouchers to individuals and families experiencing or at risk of experiencing homelessness, (2) provide grants for the modular construction of affordable housing, (3) propose a new formula for distribution of Housing Trust Fund amounts, and (4) encourage zoning and community planning methods that promote multi-family housing. The bill also makes permanent certain homeless assistance programs. The Department of Agriculture (USDA) must provide additional grants and loans to construct or preserve affordable housing for farm laborers and may provide rural housing vouchers for low-income households residing in certain properties financed with a loan made or insured by USDA. The bill also provides statutory authority for a program to preserve and revitalize USDA-backed housing projects, including by restructuring existing housing loans. The bill expands the Low-Income Housing Tax Credit (LIHTC), including by increasing the credit for projects serving extremely low-income households. Further, the bill creates a refundable tax credit for participating owners of rental buildings who lower rents for their low-income tenants. The bill also creates a tax credit similar to the LIHTC for the development of housing for middle-income households and provides a tax credit of up to $15,000 for first-time homebuyers.

This Land Is Our Land Act

United States · United States Congress · 7 March 2023

This Land Is Our Land Act This bill prohibits certain entities related to China or the Chinese government from acquiring, leasing, or owning any interest in U.S. agricultural land. Specifically, this prohibition applies to certain foreign individuals and entities with connections to China, including (1) a business incorporated in China; (2) a person, company, university, or organization that can legally enter into contracts, own properties, or pay taxes on behalf of the Chinese government; and (3) an individual or organization affiliated with the Chinese Communist Party. An entity must divest itself from any ownership or leased interest in U.S. agricultural land within two years of the bill's enactment. Further, within one year of enactment, an entity must sign a letter of intent to divest its interests in the land. Under the bill, U.S. agricultural land includes land in a U.S. state or territory that is used for (1) food processing; or (2) farming, ranching, or timber production, including currently idle land that was used within the previous five years for one of these purposes. The bill establishes civil and criminal penalties for violations and provides for property forfeiture and sale by public auction. The Department of Agriculture must establish an office to monitor compliance and impose civil fines. Finally, the bill nullifies any noncompete agreement between a covered foreign entity with an ownership or leased interest in U.S. agricultural land and an employee of the entity.

VETT Act

United States · United States Congress · 7 March 2023

VSO Equal Tax Treatment Act or the VETT Act This bill expands the deductibility of charitable contributions to all federally-chartered tax-exempt organizations serving current and former members of the Armed Forces.

Neighborhood Homes Investment Act

United States · United States Congress · 6 March 2023

Neighborhood Homes Investment Act This bill allows a business-related tax credit for certain development costs for the acquisition, rehabilitation, or remediation of qualified real property (i.e., real property affixed on a permanent foundation and comprised of four or fewer residential units, a condominium unit, or a house or apartment owned by a cooperative housing corporation). The bill also provides for the exclusion from gross income, for income tax purposes, of the value of any subsidy provided to a taxpayer by any state energy office for purposes of improvements made to a qualified residence.

Chronic Disease Management Act of 2023

United States · United States Congress · 6 March 2023

Chronic Disease Management Act of 2023 This bill modifies requirements for health savings accounts (HSAs) to permit the high deductible health plans required for an HSA to provide care for chronic conditions with no deductible. The bill covers any preventive care service or item used to treat a chronic condition if (1) such service or item is low-cost, (2) there is medical evidence of the effectiveness of such service or item, and (3) there is a strong likelihood that the use of such service or item will prevent the exacerbation of the chronic condition or the development of a secondary condition that requires significantly higher cost treatment. The bill further provides that an individual who has been prescribed preventive care for any chronic condition may be presumed to have been diagnosed with such condition if such preventive care is customarily prescribed for such condition.

Conrad State 30 and Physician Access Reauthorization Act

United States · United States Congress · 6 March 2023

Conrad State 30 and Physician Access Reauthorization Act This bill modifies the Conrad 30 Waiver program, which incentivizes qualified foreign physicians to serve in underserved communities. It also extends statutory authority for the program for three years from this bill's enactment. Aliens coming to the United States under a J-1 nonimmigrant visa to receive medical training typically must leave the country and reside for two years abroad before being eligible to apply for an immigrant visa or permanent residence. The Conrad program waives this requirement for individuals who meet certain qualifications, including serving for a number of years at a health care facility in an underserved area. The bill increases the number of waivers that a state may obtain each fiscal year from 30 to 35 if a certain number of waivers were used the previous year, and provides for further adjustments depending on demand. An alien physician may be employed at an academic medical center to meet the Conrad program's employment requirements if the alien's work is in the public interest, even if the medical center is not in an underserved area. Employment contracts for alien physicians under the Conrad program shall contain certain information, such as the maximum number of on-call hours per week the physician shall have to work. Certain alien physicians (along with the physician's spouse and children) shall be exempt from the direct annual numerical limits on immigration, including those physicians that have met certain requirements related to visas for physicians to serve in underserved areas.

American Space Commerce Act of 2023

United States · United States Congress · 3 March 2023

American Space Commerce Act of 2023 This bill allows a special allowance for bonus depreciation for qualified domestic space launch property and extends the termination of such allowance until the end of 2032. The bill defines qualified domestic space launch property as property placed in service before January 1, 2033, that is (1) a space transportation vehicle or payload that is launched from the United States, or (2) other property or equipment placed in service to facilitate a space launch from the United States.

Cameron’s Law

United States · United States Congress · 3 March 2023

Cameron's Law This bill increases the rate of the tax credit for clinical testing expenses for rare diseases or conditions from 25% to 50% (orphan drug tax credit). The bill also requires the Centers for Disease Control and Prevention to complete a study to evaluate the feasibility of enhancing and expanding the infrastructure to track the epidemiology of rare diseases or conditions.

IRS Whistleblower Program Improvement Act of 2023

United States · United States Congress · 3 March 2023

IRS Whistleblower Program Improvement Act of 2023 This bill modifies provisions of the Internal Revenue Code relating to whistleblower protections. Specifically, the bill revises the standard for review of whistleblower awards in the Tax Court to require a de novo review standard (currently, the standard is abuse of discretion); exempts whistleblower awards from reductions due to budget sequestration; allows whistleblowers anonymity in proceedings before the Tax Court; modifies the Internal Revenue Service (IRS) whistleblower report to require inclusion of a list and description of the top 10 tax avoidance schemes disclosed by whistleblowers; requires the IRS to pay interest on whistleblower awards if not paid within one year of receipt of proceeds collected from whistleblower disclosures; and allows payment of the attorney fees of whistleblowers regardless of whether the whistleblower award was paid through the mandatory or the discretionary whistleblower award program.

DEPARTMENT OF HOMELAND SECURITY APPROPRIATIONS FOR FISCAL YEAR 2023

United States · United States Senate · 2 March 2023

Disclosure of Tax Havens and Offshoring Act

United States · United States Congress · 2 March 2023

Disclosure of Tax Havens and Offshoring Act This bill requires certain members of a multinational enterprise group that are also issuers of securities to annually disclose information related to the tax jurisdiction, income, and assets of their constituent entities on a country-by-country basis. (Multinational enterprise groups have two or more entities with different tax jurisdictions.)

Federal Employees Civil Relief Act

United States · United States Congress · 2 March 2023

Federal Employees Civil Relief Act This bill establishes a framework to temporarily suspend certain judicial and administrative proceedings against a federal employee or contractor during a shutdown. Under the bill, a shutdown is a period in which (1) there is more than a 24-hour lapse in appropriations for any federal agency or department because a regular appropriations bill or a continuing resolution has not been enacted, or (2) the debt of the federal government is greater than the statutory limit. A federal worker (i.e., an employee of a government agency or contractor) who is furloughed or required to work without pay during a shutdown may apply to a court for a temporary stay, postponement, or suspension with respect to any payment of rent, mortgage, tax, fine, penalty, insurance premium, student loan repayment, or other civil obligation or liability that the worker owes or would owe during the duration of the shutdown. The bill includes related provisions that restrict evictions, foreclosures, the enforcement of liens, and the termination of insurance policies during a shutdown. It also provides for the deferral of federal income taxes and student loan payments during a shutdown. The Department of Justice may commence a civil action against any person who engages in (1) a pattern or practice of violating the requirements of this bill, or (2) a violation that raises an issue of significant public importance. A person aggrieved by a violation of this bill's requirements may also bring a private right of action.

A resolution expressing the sense of the Senate on the value of a tax agreement with Taiwan.

United States · United States Congress · 2 March 2023

This resolution recognizes the importance of Taiwan's security and prosperity to the United States' own security and prosperity. The resolution encourages the President and the House of Representatives to work with the Senate on a congressional-executive agreement to establish an income tax agreement between the United States and Taiwan, consistent with U.S commitments under the Taiwan Relations Act. The resolution also encourages the President to proactively seek other ways to increase trade, technology, and investment ties between the United States and Taiwan.

Primary Care Enhancement Act of 2023

United States · United States Congress · 2 March 2023

Primary Care Enhancement Act of 2023 This bill allows a medical expense tax deduction for direct primary care service arrangements and provides that participation in such arrangements does not disqualify patients from making tax deductible contributions to health savings accounts.

Historic Tax Credit Growth and Opportunity Act of 2023

United States · United States Congress · 2 March 2023

Historic Tax Credit Growth and Opportunity Act of  2023 This bill increases the rehabilitation tax credit and modifies certain requirements for the credit. The bill increases the rate of the credit to 30%  for small projects (rehabilitation expenditures not exceeding $3.75 million) and caps the credit for such projects at $750,000 for all taxable years. The bill also expands the types of buildings eligible for rehabilitation by decreasing the rehabilitation threshold from 100% to 50% of project expenses. It also eliminates the basis adjustment requirement for the credit and modifies rules relating to the eligibility of tax-exempt use property for the credit.

IRS Whistleblower Program Improvement Act of 2023

United States · United States Congress · 2 March 2023

IRS Whistleblower Program Improvement Act of 2023 This bill modifies provisions of the Internal Revenue Code relating to whistleblower protections. Specifically, the bill revises the standard for review of whistleblower awards in the Tax Court to require a de novo review standard (currently, the standard is abuse of discretion); exempts whistleblower awards from reductions due to budget sequestration; allows whistleblowers anonymity in proceedings before the Tax Court; modifies the Internal Revenue Service (IRS) whistleblower report to require inclusion of a list and description of the top 10 tax avoidance schemes disclosed by whistleblowers; requires the IRS to pay interest on whistleblower awards if not paid within one year of receipt of proceeds collected from whistleblower disclosures; and allows payment of the attorney fees of whistleblowers regardless of whether the whistleblower award was paid through the mandatory or the discretionary whistleblower award program.