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March 20 — At least two exempt-organization provisions could fit into the “business-only” tax overhaul now being discussed on Capitol Hill, a House Ways and Means staff aide said.
“If you take everything not specifically related to individual tax rates, you have a huge number of proposals, some of which are clearly business and some of which are not,” in the Tax Reform Act of 2014, said Harold Hancock, an aide with the House Ways and Means majority staff.
The exempt provisions in the bill, based on a discussion draft from former House Ways and Means Committee Chairman Dave Camp (R-Mich.), were the subject of speculation at a Washington Nonprofit Legal & Tax Conference session.
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