President's Advisory Panel on Federal Tax Reform Announces First Meeting

Senators Connie Mack and John Breaux, Chairman and Vice -Chairman of the President's Advisory Panel on Federal Tax Reform, on Monday announced that the panel will hold its first meeting on Wednesday, February 16, 2005 at 10 am. The meeting will be held at the Ronald Reagan Building & International Trade Center Amphitheater, Concourse Level, 1300 Pennsylvania Avenue NW, Washington, DC.

The first meeting will provide an opportunity for the panel members to hear general background information about the federal tax code. This meeting is the first in a series of public meetings that the panel will hold before it submits its final report by July 31, 2005.

The President's Advisory Panel on Federal Tax Reform was established by President Bush on January 7, 2005. President Bush has charged the bipartisan panel with recommending reforms to the tax code that will make the U.S. tax system simpler, fairer and more growth oriented.

The meeting notice, which will appear in the Federal Register, is below.

DEPARTMENT OF THE TREASURY 4810-25

Public Meeting of the President's Advisory Panel
on Federal Tax Reform

AGENCY: Department of the Treasury.

ACTION: Notice of Meeting.

SUMMARY: This notice advises all interested persons of the initial public meeting of the President's Advisory Panel on Federal Tax Reform.

Background: Executive Order 13369 (January 7, 2005) established the President's Advisory Panel on Federal Tax Reform. The Order provides that the purpose of the Advisory Panel shall be to submit to the Secretary of the Treasury a report with revenue neutral policy options for reforming the Federal Internal Revenue Code. The options should (a) simplify Federal tax laws to reduce the costs and administrative burdens of compliance with such laws; (b) share the burdens and benefits of the Federal tax structure in an appropriately progressive manner while recognizing the importance of homeownership and charity in American society; and (c) promote long-run economic growth and job creation, and better encourage work effort, saving, and investment, so as to strengthen the competitiveness of the United States in the global marketplace. At least one option submitted by the Advisory Panel should use the Federal income tax as the base for its recommended reforms.

Purpose: This is the first meeting of the Advisory Panel. The meeting will include background information presentations concerning the Federal tax system.

Comments: Interested parties are invited to attend the meeting; however, no public comments will be heard at this meeting. The public will be provided additional opportunities to submit comments regarding issues of tax reform at later dates. Any written comments with respect to this meeting must be submitted by mail to The President's Advisory Panel on Federal Tax Reform, 1440 New York Avenue NW, Suite 2100, Washington, DC 20220. An electronic address will be provided as soon as it is available. All written comments will be made available to the public.

Records: Records are being kept of Advisory Panel proceedings and will be available at the Internal Revenue Service's FOIA Reading Room at 1111 Constitution Avenue, N.W., Room 1621, Washington, DC 20024. The Reading Room is open to the public from 9 a.m. to 4 p.m., Monday through Friday except holidays. The public entrance to the reading room is on Pennsylvania Avenue between 10th and 12th streets. The phone number is (202) 622-5164 (not a toll-free number). Advisory Panel documents, including meeting announcements, agendas, and minutes, will also be available on the Advisory Panel's web site, which is currently under construction.

DATES: The meeting will be held on Wednesday, February 16, 2005, at 10 a.m.

ADDRESSES: The meeting will be held at the Ronald Reagan Building & International Trade Center Amphitheater, Concourse Level, 1300 Pennsylvania Avenue NW, Washington, DC 20004. Seating will be available to the public on a first-come, first-served basis.

FOR FURTHER INFORMATION CONTACT: Mark S. Kaizen, Designated Federal Officer, (202) 283-7900 (not a toll-free call).

You may like these other stories...

Ernst & Young 2013 audit deficiency rate 49%, regulators sayMichael Rapoport of the Wall Street Journal reported on Thursday that the Public Company Accounting Oversight Board (PCAOB) found deficiencies in 28 of the...
Some of your clients may get away to business conventions from time to time. It gives them a chance to rub shoulders with colleagues, catch up on the latest developments, and fine-tune their skills. And, when the meetings or...
PwC must face $1 billion lawsuit over MF Global adviceA federal judge on Wednesday ordered PricewaterhouseCoopers (PwC) to face a $1 billion lawsuit claiming that its bad accounting advice was a substantial cause of the...

Already a member? log in here.

Upcoming CPE Webinars

Sep 9
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.
Sep 10
Transfer your knowledge and experience to prepare your team for the challenges and opportunities of an accounting career.
Sep 11
This webcast will include discussions of commonly-applicable Clarified Auditing Standards for audits of non-public, non-governmental entities.
Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.