{"id":15568,"date":"2025-10-22T18:40:09","date_gmt":"2025-10-23T01:40:09","guid":{"rendered":"https:\/\/familyenterpriseusa.com\/?p=15568"},"modified":"2025-10-22T18:40:22","modified_gmt":"2025-10-23T01:40:22","slug":"taxation-representation-update-what-the-ongoing-shutdown-means-for-your-business","status":"publish","type":"post","link":"https:\/\/familyenterpriseusa.com\/taxes\/taxation-representation-update-what-the-ongoing-shutdown-means-for-your-business\/","title":{"rendered":"Taxation & Representation Update: What the ongoing shutdown means for your business"},"content":{"rendered":"

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Shutdown Week 4: The federal government shutdown that began on Oct. 1 continues without resolution. On Oct. 20, the Senate failed for the 11th time to advance a continuing resolution (CR) to fund government operations. The continuing stalemate centers on disagreement over extending enhanced Affordable Care Act (ACA) subsidies. Read more…<\/a><\/strong><\/h2>\n

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Lawmakers Write to Governors on the Federal Tax Credit Scholarship Program: Last week, the Wisconsin Republican congressional delegation, led by Rep. Tom Tiffany (R-WI), sent a\u00a0letter<\/a>\u00a0to Gov. Tony Evers (D-WI) urging him to support the new Federal Tax Credit Scholarship Program, which requires state approval for Wisconsin families to participate. Read more…<\/a><\/strong><\/em><\/h3>\n

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Trump Kills Carbon Shipping Tax Proposal:<\/strong> On Oct. 17, the Trump administration disrupted a proposal to tax greenhouse gas emissions from global shipping at the International Maritime Organization (IMO) in London, resulting in a one-year delay pushed by Saudi Arabia and Russia. The measure collapsed after the threats of tariffs and shifting votes from countries such as Greece, Cyprus and China. Read more…<\/a><\/p>\n

IRS Issues Transitional Guidance for No Tax on Auto Loans:<\/strong> On Oct. 21, the IRS issued\u00a0Notice 2025-57<\/a>, which provides transitional guidance and penalty relief for businesses and lenders required to report auto-loan interest under the OBBBA. The guidance allows eligible entities to fulfill new information reporting obligations for 2025 by providing simplified statements to borrowers showing the total interest received on qualified passenger vehicle loans, including through online portals or regular account statements. Read more…<\/a><\/p>\n

Trump Administration to Review IRS-CI Operations to Scrutinize Left-Leaning Organizations:<\/strong> Last week, reports indicated that the Trump administration is planning broad systematic changes to the IRS Criminal Investigations Division (IRS-CI). Treasury Secretary and Acting IRS Commissioner Scott Bessent and advisor Gary Shapley are reportedly looking to restructure leadership and reduce the role of IRS lawyers in criminal probes to allow the division greater independence in pursuing cases. Read more…<\/a><\/p>\n

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Treasury turmoil: what to watch this week in D.C.. From tax credits to Treasury cuts, here\u2019s what\u2019s changing, and what\u2019s next for family owned businesses.<\/a><\/strong><\/em><\/span><\/h3>\n

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About Brownstein Hyatt Farber Schreck
<\/strong>Brownstein Hyatt Farber Schreck is a unique law firm. Walk into any of our offices and you\u2019ll immediately recognize a different type of energy. Complacency doesn\u2019t have a place here. Flexibility and inspiration do.\u00a0Our culture and enthusiasm allow our attorneys, policy consultants and legal staff to stay ahead of our clients\u2019 needs and provide them with the resources they require to meet their business objectives.<\/p>\n

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We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…<\/em><\/h4>\n

As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a member.<\/p>\n

The need for fact-based reporting of issues important to family owned businesses<\/a> and protecting a lifetime of savings<\/a> has never been greater. Now more than ever, successful families<\/a> and family owned businesses<\/a> are under fire. That’s why Family Enterprise USA<\/a> is passionately working to increase the awareness of issues important to family owned businesses<\/a> built on hard work, while continuing to strengthen our presence on Capitol Hill. The issues we fight for or against with Congress in Washington DC include high income tax rates<\/a>, possible elimination of valuation discounts, increase in capital gains tax<\/a>, enactment of a wealth tax<\/a>, and the continued burden of the gift tax<\/a>, estate tax<\/a> and generation skipping tax<\/a>.<\/p>\n

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Family Enterprise USA<\/a> promotes generationally<\/a> owned family business<\/a> creation, growth, viability, and sustainability by advocating for family businesses<\/a> and their lifetime of savings with Congress<\/a> in Washington DC.\u00a0 Since 2007, Family Enterprise USA<\/a> has represented and celebrated\u00a0all sizes, professions and industries of family-owned enterprises and multi-generational<\/a> employers. It is a bi-partisan 501.c3 organization.\u00a0Family foundations can donate.<\/a><\/p>\n

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#incometax #CapitalGainsTax #R&DExpensing #DontPunishSuccess #GrantorTrusts #StepUpinBasis #likeKindExchanges #AcceleratedDepreciation #EstateTax #Deathtax #wealthtax #taxLegislation #CongressionalCaucus #incometaxrates #repealestatetax #AdvocatingForFamilyBusinesses #FamilyOwnedBusiness #WomenOwnedBusiness @FamilyEnterpriseUSA #FamilyEnterpriseUSA<\/p>\n

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Shutdown Week 4: The federal government shutdown that began on Oct. 1 continues without resolution. On Oct. 20, the Senate failed for the 11th time to advance a continuing resolution (CR) to fund government operations. The continuing stalemate centers on disagreement over extending enhanced Affordable Care Act (ACA) subsidies. Read more…   Lawmakers Write to […]<\/p>\n","protected":false},"author":2,"featured_media":15570,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[48,43,92,76,36],"tags":[],"class_list":["post-15568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-estate-taxes","category-multi-generational-business","category-income-taxes","category-taxes"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/15568","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15568"}],"version-history":[{"count":3,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/15568\/revisions"}],"predecessor-version":[{"id":15574,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/15568\/revisions\/15574"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/15570"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}