Possible criminal charges over ex-IRS official's handling of Tea Party-related groups
Do small businesses have a tax problem? The House Small Business Committee holds a on the biggest tax problems faced by small firms. 罢笔颁鈥檚 Donald Marron and American University鈥檚 David Kautter will testify. They鈥檒l be joined by Tim Reynolds of the National Small Business Association, and Rick Endres of The ASCII group, a consortium of small IT firms.
Big political problems: The House GOP v. Lois Lerner. The House Ways & Means Committee to mark up a referral to the Justice Department 聽for possible criminal prosecution of former IRS Exempt Organizations Division Director Lois Lerner. And 聽the House Oversight Committee Thursday on a resolution to hold her in contempt of Congress. Lerner managed the controversial IRS review of applications for tax-exempt status by politically-oriented social welfare organizations.
High incomes: Higher taxes. 罢笔颁鈥檚 Bob Williams for high earners鈥� in the top 1 percent: Last year鈥檚 American Taxpayer Relief Act restored the top tax rate of聽39.6 percent, the phaseout for personal exemptions, and a limitation on itemized deductions 聽for high earners. And the Affordable Care Act raised income taxes on investment income and boosted the Medicare tax for high-income taxpayers. that almost 90 percent of the tax increase will fall on the top 1 percent this year, cutting their after-tax income by nearly 2 percent.
惭补谤测濒补苍诲鈥檚 House of Cards: The battle between the state legislature and the popular Netflix streaming video series has . The show鈥檚 producers threatened to leave the state unless they got $18.5 million in tax subsidies. The state legislature adjourned without passing the bill, but the show can still get about $15 million in subsidies. Will it decamp for more generous climes? A Netflix聽lobbyist couldn鈥檛 possibly comment.
Tax Day and income inequality. Join TPC for a discussion with Thomas Piketty, author of Capital in the Twenty-First Century, a new book on the long-term evolution of inequality, the concentration of wealth, and prospects for economic growth. In a conversation moderated by 罢笔颁鈥檚 Len Burman, Piketty will be joined by Dean Baker of the Center for Economic and Policy Research and Kevin Hassett of the American Enterprise Institute. or tune in to the live webcast on Tuesday, April 15, at noon.
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