Daily Tax Update - June 1, 2009

CONGRESS RETURNS TO BEGIN WORK ON SUPPLEMENTAL SPENDING BILL AND HEALTH CARE REFORM:  Congress returns and hopes to complete action on a supplemental spending bill this week. 

  • Meanwhile, the Senate Finance Committee will begin considering possible options that might be included in a health care reform bill. Committee Chairman Max Baucus released a list of funding options for health care reform last month that includes the revenue raisers in the Administration’s Green Book. Baucus will meet with committee members on Thursday to discuss the committee’s agenda for the next few weeks.
  • On the House side, House Ways and Means Chairman Charles Rangel said that he expects to gather members’ preliminary ideas on health care reform later this week. It is unclear when either Committee will mark up a bill.

IRS OFFERS NATIONWIDE TAX FORUMS:  The IRS will hold a series of three-day seminars around the country featuring IRS leadership and experts in the fields of tax law, compliance, and ethics.

  • The forums will be held in the following locations:  Las Vegas on July 7-9; San Diego on July 14-16; Orlando on August 4-6; New York on August 25-27; Dallas on September 8-10; and Atlanta on September 22-24.
  • Registration information can be accessed here.  

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.