House Ways and Means Hearing II on Tax, Accounting and Tax Reform: Small and Closely Held Businesses
Congressman Dave Camp (R-MI), Chairman of the House Committee on Ways and Means, has announced that the second in a set of two hearings examining tax, accounting and tax reform will take place this week. The hearing, set for Wed. March 7 at 10am EST, will focus on small and closely-held businesses. (See FEI's summary of the first of the two hearings, which focused on publicly held companies.)
As noted in the Hearing Advisory for the House W&M March 7 hearing : "As part of comprehensive tax reform, the Committee must determine how best to reduce tax compliance costs and tax rates on closely-held businesses so that they can devote their resources to innovation and job creation, rather than to tax compliance and tax planning."
FEI member Mark Smetana, CFO, Eby-Brown Company, and former Chairman of FEI's Committee on Private Company-Policy (CPC-P) is among those testifying at the ee's March 7 hearing,