Say It Isn’t So

Excerpted from a recent release by the law firm Holland & Knight:

In his State of the Union speech last month, President Obama called for “bipartisan, comprehensive tax reform,” while the chairmen of the House Ways and Means Committee and Senate Finance Committee — Representative Dave Camp (R-Mich.) and Senator Max Baucus (D-Mont.) — have each pledged to pursue an overhaul of the tax code in 2013. Further, the Government Accountability Office and the Internal Revenue Service’s National Taxpayer Advocate continue to urge Congress to prioritize tax reform. Both offices have recommended that Congress reexamine the deduction for state and local taxes and the exclusion of interest on municipal bonds as part of comprehensive tax reform.

Stay tuned . . .

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