Daily Tax Update - April 11, 2005

HOUSE WAYS AND MEANS COMMITTEE TO MARK-UP ENERGY TAX BILL:
On April 13, the House Ways and Means Committee will consider a bill to enhance energy infrastructure properties in the United States and encourage the use of certain energy technologies. The bill contains approximately $7 billion in energy tax provisions.

  • In conjunction with the mark-up, the Joint Committee on Taxation has released a description of the tax provisions in the bill. The document can be accessed here.    

HOUSE TO CONSIDER ESTATE TAX REPEAL BILL WEDNESDAY:
On April 13, the House will consider a bill to make the estate tax repeal permanent at an estimated cost of $256 billion over 10 years. The bill is expected to easily pass the House. The Senate may consider estate tax legislation in May or June.

INTERNAL REVENUE SERVICE - CIRCULAR 230 DISCLOSURE:
As provided for in Treasury regulations, advice (if any) relating to federal taxes that is contained in this communication (including attachments) is not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any plan or arrangement addressed herein.

STEPTOE & JOHNSON LLP - TAX PRACTICE
Steptoe & Johnson LLP has one of the largest and most diverse law firm tax practices in the country. The practice covers the entire spectrum of federal taxation, including representation of businesses before the Congress, Treasury and the national office of the IRS; transactional planning for domestic and multinational corporations; complex audit and controversy work for corporations and other business interests contesting IRS adjustments; litigation before the Tax Court, Court of Federal Claims, district courts, courts of appeals and the Supreme Court. The firm's tax practice also encompasses all aspects of employee benefits (ERISA), executive compensation, tax-exempt organizations and charitable giving.  Steptoe has an extensive state and local tax practice, representing an array of business clients on complex sales and use tax, corporate income tax and property tax matters, both advising those clients and handling audits, administrative appeals, and litigation for them.  Read  more information on Steptoe's tax practice