Daily Tax Update - May 11, 2016: Senate Finance Committee to Hold Hearing on Corporate Integration

Senate Finance Committee to Hold Hearing on Corporate Integration:  Senate Finance Committee Chairman Orrin Hatch (R-UT) announced that the committee will hold a hearing on Tuesday, May 17 at 10 a.m. to examine the pros and cons of corporate integration (eliminating double taxation of corporate profits).  The following witnesses are scheduled to testify:

  • Mr. Michael J. Graetz
    Wilbur H. Friedman Professor of Tax Law and Columbia Alumni Professor of Tax Law, Columbia University
  • Ms. Judy A. Miller
    Director of Retirement Policy, American Retirement Association
    Executive Director, American Society of Pension Professionals and Actuaries College of Pension Actuaries
  • Mr. Steven M. Rosenthal
    Senior Fellow, Urban-Brookings Tax Policy Center, Urban Institute
  • Mr. Bret Wells
    Associate Professor of Law, Law Center, University of Houston

Miscellaneous Guidance Released:
Revenue Procedure 2016-26 provides guidance with respect to the United States and area median gross income figures that are to be used by issuers of qualified mortgage bonds and issuers of mortgage credit certificates in computing the income requirements described in section 143(f).