On June 16, the Senate Finance Committee released its draft portions of “The One Big Beautiful Bill Act,” following passage by the House of its version of the bill on May 22. Like the House bill, the Senate proposal includes...more
• Based on a new review of nonprofit hospitals by Senate Finance Committee Chairman Charles Grassley (R-Iowa), a congressional investigation is expected that directly requests a number of specific hospitals to answer...more
On November 20, 2017, the Senate Finance Committee released legislative text of its version of the Tax Cuts and Jobs Act, which contains proposals modifying certain executive compensation provisions of the Internal Revenue...more
Yesterday afternoon, the House of Representatives passed the Tax Cuts and Jobs Act (H.R. 1) (the “House bill”). The House bill is identical to the draft bill approved by the House Ways and Means Committee on November 10. Late...more
The House and Senate propose wide-sweeping amendments to the tax rules regarding executive and equity compensation that would affect public and private for-profit companies as well as tax-exempt organizations. The House...more
UPDATE: The Senate Finance Committee last night released a revised version of the Chairman’s Mark of the Tax Cuts and Jobs Act. We are reviewing these changes and will release an update soon... On Thursday, November 9, the...more
On November 9, 2017, Republicans on the Senate Finance Committee announced their plan for reforming the Federal tax code, including several provisions that target charitable hospitals and other tax-exempt organizations. Like...more
In what can only be described as a brutal attack on the nonprofit sector, the Senate has proposed sweeping changes that would have dramatic adverse effects on all tax-exempt organizations. Whereas the latest version of the...more