Ways and Means to mark up permanent tax extenders bills

Ways and Means to mark up permanent tax extenders bills

The House Ways and Means Committee has scheduled for Wednesday, February 4, a mark-up of seven bills, including bills that would permanently extend:

Related content

  • Higher expensing levels for small businesses (H.R. 636)
  • The charitable deduction for contributions of food inventory (H.R. 644)
  • Certain tax-free distributions from individual retirement accounts (IRAs) for charitable purposes (H.R. 637)
  • The reduced recognition period for built-in gains of S corporations
  • The rules regarding basis adjustments to stock of S corporations making charitable contributions of property
  • The increased percentage limits and carryforward period for qualified conservation contributions (H.R. 641)

Ways and Means will also mark up a bill concerning the tax rate for excise tax on investment income of private foundations.

Text of the bills and amendments, as well as descriptions of each bill provided by the Joint Committee on Taxation are available on the Ways and Means website.

© 2017 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.

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.

Connect with us


Request for proposal



KPMG's new digital platform

KPMG's new digital platform