Daily Tax Update - March 10, 2009

JOINT TAX COMMITTEE RELEASES LIST OF EXPIRING TAX PROVISIONS:  The Joint Committee on Taxation has released its annual list of expiring tax provisions. The document provides a listing of Federal tax provisions (other than those providing time-limited transition relief after the repeal of an underlying rule) that are currently scheduled to expire in 2008-2020. 

  • The JCT document includes all tax legislation enacted through mid-February.
  • The document can be accessed here.  

H.R.1389: To amend the Internal Revenue Code of 1986 to allow a refundable credit for taxes paid on earnings reinvested and lost in a fraudulent investment scheme.
Sponsor: Rep Ackerman, Gary L. [NY-5] (introduced 3/9/2009)      Cosponsors (None)

S.551: A bill to amend the Internal Revenue Code of 1986 to exempt certain shipping from the harbor maintenance tax.
Sponsor: Sen Lautenberg, Frank R. [NJ] (introduced 3/9/2009)      Cosponsors (5)

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.

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