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Removing Incentives for Outsourcing Act
Legislative Progress
Momentum (last 30 days)
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0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
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0d open
vs 5,357 other S bills in the 117th — cohort avg 38d
Removing Incentives for Outsourcing Act This bill modifies the tax treatment of foreign source income of domestic corporations to (1) eliminate a provision that allows companies to deduct a portion of the tangible assets of their controlled foreign corporations (CFCs) before the tax on foreign income applies, and (2) require net CFC tested income to be determined on a country-by-country basis rather than globally. The bill also requires the Joint Committee on Taxation to study options for reforming laws related to the taxation of income from international sources.
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Filing registrants (1)
2022 · first_quarter · Taxation/Internal Revenue Code
Last-in, First-out(LIFO) Inventory Accounting Method; General Federal tax policy; HR.133, Consolidated Appropriations Act 2021; S.617 + HR.1712, Death Tax Repeal Act; S.480 + HR.1381, Main Street Tax Certainty Act of 2021; HR.5317, Commonsense Reporting Act; HR.5376, Build Back Better; HR.6161, Employee Retention Tax Credit Reinstatement Act; IRC Section 473 re LIFO; Tax proposals in American Jobs Plan and American Families Plan; Section 199(A) Small Business Deduction; Amendment 3292 to S.Con.Res.14, the Budget Resolution re preservation of Sec.199A's 20% deduction for qualified business income; Reconciliation bills pursuant to S.Con.Res.14; Letter to President Biden re 5 Immediately Supply Chain Solutions
Read twice and referred to the Committee on Finance.
Introduced in Senate
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Sources: Congress.gov
Client expense: $207,020 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), SENATE, Treasury, Dept of, White House Office
2021 · fourth_quarter · Taxation/Internal Revenue Code
Last-in, First-out(LIFO) Inventory Accounting Method; General Federal tax policy; HR.133, Consolidated Appropriations Act 2021; S.617 + HR.1712, Death Tax Repeal Act; S.480 + HR.1381, Main Street Tax Certainty Act of 2021; HR.5317, Commonsense Reporting Act; HR.5376, Build Back Better; HR.6161, Employee Retention Tax Credit Reinstatement Act; IRC Section 473 re LIFO; Tax proposals in American Jobs Plan and American Families Plan; Section 199(A) Small Business Deduction; Comprehensive Account Reporting to Improve Tax Compliance; Amendment 3292 to S.Con.Res.14, the Budget Resolution re preservation of Sec.199A's 20% deduction for qualified business income; Reconciliation bills pursuant to S.Con.Res.14; Letter to President Biden re 5 Immediately Supply Chain Solutions
Client expense: $211,241 · Firm income: Not reported
Government targets: Federal Motor Carrier Safety Administration, Federal Trade Commission (FTC), General Services Administration (GSA), HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Labor Relations Board (NLRB), Occupational Safety & Health Administration (OSHA), SENATE, Transportation, Dept of (DOT), Treasury, Dept of, White House Office
2021 · third_quarter · Taxation/Internal Revenue Code
Last-in, First-out(LIFO) Inventory Accounting Method; General Federal tax policy; Retention of Net Operating Loss/Loss Limitation provisions in the CARES Act; HR.133, Consolidated Appropriations Act 2021; S.617 + HR.1712, Death Tax Repeal Act; S.480 + HR.1381, Main Street Tax Certainty Act of 2021; HR.5317, Commonsense Reporting Act; IRC Section 473 re LIFO; Tax proposals in American Jobs Plan and American Families Plan; Section 199(A) Small Business Deduction; Comprehensive Account Reporting to Improve Tax Compliance; Amendment 3292 to S.Con.Res.14, the Budget Resolution re preservation of Sec.199A's 20% deduction for qualified business income; Reconciliation bills pursuant to S.Con.Res.14
Client expense: $183,260 · Firm income: Not reported
Government targets: Federal Motor Carrier Safety Administration, Federal Trade Commission (FTC), General Services Administration (GSA), HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Labor Relations Board (NLRB), Occupational Safety & Health Administration (OSHA), SENATE, Transportation, Dept of (DOT), Treasury, Dept of