Daily Tax Update - May 27, 2014: Justice Department Tax Division Assistant Attorney General Keneally to Depart

JUSTICE DEPARTMENT TAX DIVISION ASSISTANT ATTORNEY GENERAL KENEALLY TO DEPART:  Kathryn Keneally, Assistant Attorney General for the Department of Justice Tax Division, will step down effective June 5, 2014. Keneally was sworn in as the Assistant Attorney General for the Tax Division in 2012.

“I have been very fortunate to work every day with the talented and extraordinary women and men of the Tax Division, who are dedicated to ensuring that our nation’s tax laws are enforced fairly and consistently,” said Assistant Attorney General Keneally.  “I have benefited from the strong relationship between the division and the Internal Revenue Service, which shares our commitment to tax enforcement and voluntary tax compliance.  I am grateful for the leadership and support of the Attorney General, the Deputy Attorney General and the Associate Attorney General.  I will always be grateful to the President for giving me this opportunity to serve.”

WAYS AND MEANS TO MARK UP ANOTHER PACKAGE OF TAX EXTENDERS:  Tomorrow, the House Ways and Means Committee will hold a mark up to make several charitable giving provisions permanent and a provision to modify and make permanent bonus depreciation.

JOINT TAX COMMITTEE PROVIDES REVENUE ESTIMATES FOR ANTI-INVERSION BILLS:  The Joint Committee on Taxation has estimated that the House anti-inversion bill (H.R. 4679) introduced by Rep. Sander Levin (D-MI) would raise $19.5 billion over the next decade.  The Senate bill (S. 2360), which contains a two-year moratorium instead of a permanent change, is estimated to raise revenue by $791 million over ten years. 

The document can be accessed via: http://democrats.waysandmeans.house.gov/sites/democrats.waysandmeans.house.gov/files/113-0927%20JCT%20Revenue%20Estimate.pdf