Daily Tax Update - January 14, 2013: No Tax Legislative Business This Week

NO TAX LEGISLATIVE BUSINESS THIS WEEK:  The Senate is in recess until January 21st and the House will not consider any tax-related legislation this week.  The Ways and Means Committee will hold an organizational meeting later today and plans to discuss the Draft - Rules of the Committee on Ways and Means for the 113th Congress. House Republicans will hold a retreat later this week.

  • In other news, the Office of Management and Budget has informed the House Budget Committee that it will not meet the February 4th deadline to deliver the fiscal year 2014 budget as required by law.  Acting Budget Director Jeff Zients told Budget Committee Chairman Ryan in a letter the budget would be delayed because some tax and spending issues under the fiscal cliff act were not resolved until January 2nd.  Zients wrote, “We will submit it to Congress as soon as possible.  
  • President Obama plans to deliver the State of the Union Address on February 12th.

FINANCE MEMBER ROCKEFELLER TO RETIRE:  Long-time Senate Finance Committee member John D. Rockefeller IV (D-WV) announced that he would retire when his term ends in 2014.

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.

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