Daily Tax Update - June 12, 2013: IRS Offices to be Closed June 14

IRS Offices to be Closed June 14:  The IRS reminded taxpayers that the agency will be closed on Friday, June 14 due to the budget sequester.  All IRS offices will be closed, including all toll-free hotlines, the Taxpayer Advocate Service and the agency’s nearly 400 taxpayer assistance centers nationwide.  The IRS said that IRS employees will be furloughed without pay.  The IRS stated, “Because none of the furlough days are considered federal holidays, the shutdown will have no impact on any tax-filing or tax-payment deadlines.”

Camp Discusses Tax Reform:  In remarks today, House Ways and Means Committee Chairman Dave Camp discussed tax reform.  Camp said, “Although we have covered a lot of territory so far, we are certainly mindful of how much further we still have to go.”  Camp continued, “For our worldwide American companies, the tax code is a barrier to success created by outdated tax policy that leaves our country falling further behind our international competitors.  For families, just to take one example, the tax code is about trying to manage 15 different tax provisions aimed at helping afford higher education and the more than 90 pages of IRS instructions that accompany them.  For small businesses, the tax code is a mind numbing maze of tax rules that force nine-out-of-ten small business to rely on an accountant, or face something even worse – an audit.”  Camp added, “Today’s tax code is too complex, too costly and too time consuming.  It is a wet blanket on the economy, smothering the job creation and wage increases Americans need. . . . But like anything worth having, tax reform isn’t going to come without hard work – and it is work that we must all do together.”  Camp said, “Fixing our broken tax code means it will be more conducive to innovation, investment and sustained job creation. . . . And perhaps tax reform will yield something that, these days, we are more mindful of than ever.  By making the tax code simpler and fairer, we can begin to regain the trust of the American people and restore the belief that Washington can work for them.”

Werfel has Temporary Title Change:  Daniel Werfel (who formerly held the title of Acting IRS Commissioner) has been temporarily designated as the Principal Deputy Commissioner for Services and Enforcement at the IRS.  The title change was necessitated by the Vacancies Reform Act which sets out how Senate-confirmed offices are filled on a temporary basis.  Treasury Secretary Jacob Lew said that Werfel will still lead the agency and have the authority to perform “all the delegable duties and responsibilities of the Commissioner of Internal Revenue.”  Once President Obama formally nominates an Acting Commissioner, that person will hold the title.

Tax Bills Introduced June 11:

1. [113rd] H.R.2312 : To exempt the natural aging process in the determination of the production period for distilled spirits under section 263A of the Internal Revenue Code of 1986.
Sponsor: Rep Barr, Andy [KY-6] (introduced 6/11/2013)      Cosponsors (5) 
Committees: House Ways and Means 
Latest Major Action: 6/11/2013 Referred to House committee. Status: Referred to the House Committee on Ways and Means.


2. [113rd] H.R.2313 : To amend the Internal Revenue Code of 1986 to issue regulations covering the practice of enrolled agents before the Internal Revenue Service.
Sponsor: Rep Boustany, Charles W., Jr. [LA-3] (introduced 6/11/2013)      Cosponsors (3) 
Committees: House Ways and Means 
Latest Major Action: 6/11/2013 Referred to House committee. Status: Referred to the House Committee on Ways and Means.


3. [113rd] H.R.2320 : To amend the Internal Revenue Code of 1986 to provide an increasingly larger earned income credit for families with more than 3 children.
Sponsor: Rep Nadler, Jerrold [NY-10] (introduced 6/11/2013)      Cosponsors (None) 
Committees: House Ways and Means 
Latest Major Action: 6/11/2013 Referred to House committee. Status: Referred to the House Committee on Ways and Means.


4. [113rd] S.1133 : A bill to amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes.
Sponsor: Sen Rockefeller, John D., IV [WV] (introduced 6/11/2013)      Cosponsors (4) 
Committees: Senate Finance 
Latest Major Action: 6/11/2013 Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.


5. [113rd] S.1134 : A bill to amend the Internal Revenue Code of 1986 to issue regulations covering the practice of enrolled agents before the Internal Revenue Service.
Sponsor: Sen Portman, Rob [OH] (introduced 6/11/2013)      Cosponsors (None) 
Committees: Senate Finance 
Latest Major Action: 6/11/2013 Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.


6. [113rd] S.1141 : A bill to amend the Internal Revenue Code of 1986 to expand the rehabilitation credit, and for other purposes.
Sponsor: Sen Cardin, Benjamin L. [MD] (introduced 6/11/2013)      Cosponsors (3) 
Committees: Senate Finance 
Latest Major Action: 6/11/2013 Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.