February 2, 2015

Ways and Means Plans Markup of Permanent Tax Extenders Feb. 4

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From Daily Tax Report

For over 50 years, Bloomberg BNA’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...

Jan. 30 — The House Ways and Means Committee plans to vote on seven expired tax provisions Feb. 4, aiming to make permanent certain benefits related to conservation easements, S corporations and business expensing in tax code Section 179, among other items.

A committee aide confirmed the plan to Bloomberg BNA on Jan. 30.

The bills likely to be considered largely match a list of tax measures House Majority Leader Kevin McCarthy (R-Calif.) identified the week of Jan. 6 as good candidates for permanency. Some weren't on McCarthy's list, such as a bill to reduce the excise tax rate on the net investment income of tax-exempt private foundations, according to a list obtained by Bloomberg BNA.