The five bipartisan working groups, consisting of subgroups of the Senate Finance Committee members, continue with their project to examine the tax code and to develop ideas to simplify it, and make it fairer and more efficient.
Beginning this week, the working groups will make presentations to the full Finance Committee members and staff about the progress each working group has made to date. This exercise will provide an opportunity for Finance Committee members to weigh in on the work their colleagues sitting on other working groups.
The five working groups will be making the presentations in non-public meetings on the following dates:
Since forming in March 2015, the working groups have spent months holding meetings and roundtables with congressional and administration staff, taxpayers, and other stakeholders. In addition, comments from interested parties were solicited, and stakeholders responded by submitting over 1,400 suggestions. Read the stakeholder comments that have been released to the public.
The working groups were charged by Chairman Hatch (R-UT) with producing legislative recommendations within each of the substantive areas within their subject matter jurisdiction by the end of May 2015. At this point, it is unclear what form such recommendations will take, and it is possible that some of the working groups may present more detailed recommendations than others. Chairman Hatch has stated that he has not yet decided whether the products of the working groups will be made available to the public.
© 2019 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.