Overview
Bloomberg BNA quoted Robert Rizzi, co-chair of Steptoe’s Tax Group, in a December 12 article titled “What Mnuchin Should Expect From Senate Vetting: Tax Primer.” The article discusses what President-elect Donald Trump’s pick for Treasury Secretary, Steven Mnuchin, will likely face when he takes his turn under the microscope in the Senate Finance Committee’s vetting process. The article states that there are several tax issues a nominee should expect to be heavily scrutinized for, including carried interest, foreign bank accounts, and “nanny taxes.”
“It is a hot-button tax issue, no question about that,” says Mr. Rizzi, who has shepherded numerous political appointees through the vetting process, including cabinet and sub-cabinet members in both Democratic and Republican administrations. He tells Bloomberg BNA he has had clients under consideration for nomination by the Obama administration who were immediately disqualified for failure to pay their nanny taxes.
The full article can be read at Bloomberg BNA.