Daily Tax Update - June 16, 2006

HOUSE VOTES TO REMOVE REP. JEFFERSON FROM WAYS AND MEANS COMMITTEE:
Today, the House voted to remove Rep. William Jefferson (D-LA) from his seat on the Ways and Means Committee. The move came on a voice vote without debate.

  • Jefferson had refused to step aside voluntarily until his criminal investigation for bribery was completed. Yesterday, the House Democratic Caucus voted 99 to 58 to remove Jefferson from his Ways and Means seat. However, it took a vote of the full House to officially remove him.

TAX BILL INTRODUCED JUNE 15:

  • S.3523 sponsored by Sen. Dianne Feinstein (D-CA) would provide that the Tax Court may review claims for equitable innocent spouse relief and suspend the running on the period of limitations while such claims are pending.

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