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Corporate Tax Law

Corporate Tax Rates, ACA quirks, John Koskine: Monday’s Tax Brief

March 13, 2017
Jenna Beekhuis, an office tower in San Francisco

Here are some tax stories on my radar today:

The Affordable Care Act: Leonard E. Burman examines an interesting quirk of the Affordable Care Act (ACA) over at Tax Vox — apparently the “additional Medicare contribution” tax on the investments of high-income households doesn’t go into the Medicare trust fund after all.

The reason? A provision that would have directed the Medicare contribution to support the trust fund wouldn’t have survived reconciliation. (Tax Vox)

See also: Republicans are flirting with class warfare in their healthcare bill,” Henry Aaron, The Hill.

IRS and student financial aid: Students filling out FAFSA applications may run into a snag — the IRS’ data retrieval tool went dark and may be unavailable for weeks due to security concerns.

Editorial: The New York Post is calling for the firing of IRS Commissioner John Koskine for his alleged failure to properly investigate the slow-walking of tax exemptions for 75 conservative groups.

Corporate tax reform: The Washington Post‘s Editorial Board is advocating for a corporate-tax-reform plan by Alan Viard of the American Enterprise Institute and Eric Toder of the Urban Institute.

The Viard-Toder plan would lower the corporate tax rate to 15% and then tax shareholders at the same rate as their ordinary income. The goal of the plan is to shift a the corporate tax burden on individuals instead of companies who can park their profits abroad.

Finally:Tax reform could hurt junk-rated companies and their private-equity suitors,” Ciara Linnane, Market Watch.

Image: Jenna Beekhuis, an office tower in San Francisco.

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