{"id":9452,"date":"2023-11-03T12:15:57","date_gmt":"2023-11-03T19:15:57","guid":{"rendered":"https:\/\/familyenterpriseusa.com\/?p=9452"},"modified":"2023-11-03T12:21:21","modified_gmt":"2023-11-03T19:21:21","slug":"stay-ahead-on-policy-updates-week-in-review-power-shifts-funding-battles-and-cryptocurrency-rules","status":"publish","type":"post","link":"https:\/\/familyenterpriseusa.com\/taxes\/stay-ahead-on-policy-updates-week-in-review-power-shifts-funding-battles-and-cryptocurrency-rules\/","title":{"rendered":"Stay Ahead on Policy Updates. Week in Review: Power Shifts, Funding Battles, and Cryptocurrency Rules."},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.16″ custom_padding=”4px|||||” global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_divider color=”#397389″ divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/polling-and-research\/contact-your-representatives-in-congress-to-join-the-congressional-family-business-caucus-now\/” button_text=”Empower Change: Demand Action from Your Representatives in Congress Against Damaging Policies and Excessive Regulation!” button_alignment=”center” disabled_on=”off|off|off” admin_label=”Call to Action Button Top” _builder_version=”4.22.1″ _module_preset=”default” custom_button=”on” global_module=”7025″ saved_tabs=”all” global_colors_info=”{}”][\/et_pb_button][et_pb_divider color=”#397389″ divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”1″ _builder_version=”4.22.1″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]<\/p>\n

Johnson Elected Speaker: Shutdown Looms, Year-End Tax Bill Remains a Possibility.\u00a0<\/strong>After a three-week speakership vacancy following Rep. Kevin McCarthy\u2019s (R-CA) removal from the position on Oct. 3, the House voted 220-209 along party lines to elect Rep. Mike Johnson (R-LA) as its new speaker.<\/span>
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Speaker Johnson, prior to his election, released a\u00a0Dear Colleague Letter<\/a> on Oct. 23 outlining his plans to pass fiscal year (FY) 2024 appropriations measures quickly through the House. He also wrote in support of passing another stopgap measure to extend government funding beyond the current Nov. 17 deadline, with a new expiration date… (click to continue)<\/a><\/span><\/p>\n

[\/et_pb_text][et_pb_divider color=”#397389″ divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.5″ _module_preset=”default” custom_margin=”||14px|||” custom_padding=”10px||2px|||” global_colors_info=”{}”][\/et_pb_divider][et_pb_button button_url=”https:\/\/comms.bhfs.com\/rv\/ff00b88e0de013fb0fb452649644bbbae434e369″ url_new_window=”on” button_text=”Read More: Speaker Election and Government Funding, Senate’s Minibus Spending Bill, IRS and Cryptocurrency Reporting Rules. Click Here!” button_alignment=”center” disabled_on=”off|off|off” admin_label=”Call to Action Button” _builder_version=”4.22.1″ _module_preset=”default” custom_button=”on” custom_margin=”||23px|||” global_colors_info=”{}”][\/et_pb_button][et_pb_divider color=”#397389″ divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.5″ _module_preset=”default” custom_margin=”||14px|||” custom_padding=”10px||2px|||” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”2″ _builder_version=”4.22.1″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]<\/p>\n

Senate Update: Minibus Slated for Floor Vote, Paul Amendment Would Rescind IRS Funding.<\/strong> On Oct. 24, Senate leadership reached a deal to advance the process of filing amendments to a $280 million \u201cminibus\u201d spending bill that includes its versions of the Military Construction-VA, Agriculture-FDA, and Transportation-HUD spending measures. As early as Nov. 1, the Senate plans to continue voting on amendments with the goal of passing the minibus later… (click to continue)<\/a><\/span><\/p>\n

[\/et_pb_text][et_pb_divider color=”#397389″ divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.5″ _module_preset=”default” custom_margin=”||14px|||” custom_padding=”10px||2px|||” global_colors_info=”{}”][\/et_pb_divider][et_pb_button button_url=”https:\/\/comms.bhfs.com\/rv\/ff00b88e0de013fb0fb452649644bbbae434e369″ url_new_window=”on” button_text=”Read More: Speaker Election and Government Funding, Senate’s Minibus Spending Bill, IRS and Cryptocurrency Reporting Rules. Click Here!” button_alignment=”center” disabled_on=”off|off|off” admin_label=”Call to Action Button” _builder_version=”4.22.1″ _module_preset=”default” custom_button=”on” custom_margin=”||23px|||” global_colors_info=”{}”][\/et_pb_button][et_pb_divider color=”#397389″ divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.5″ _module_preset=”default” custom_margin=”||14px|||” custom_padding=”10px||2px|||” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”3″ _builder_version=”4.22.1″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]<\/p>\n

Puerto Rico Considers Entrance into GMT Deal.<\/strong> On Oct. 26, Puerto Rican Secretary of Treasury Francisco Par\u00e9s Alicea stated that the island territory intends to take steps to incorporate a global minimum tax compliant with the Organisation for Economic Co-operation and Development\u2019s Pillar Two global tax regime. Par\u00e9s Alicea cited Pillar Two\u2019s uncertain future in the United States as a primary reason for Puerto Rico to forge ahead in adopting the new regime, stating that widespread global adoption of Pillar Two rules would affect non-U.S.-based companies in Puerto Rico. Par\u00e9s Alicea also noted that the companies with which he met requested additional tax credits or incentives to offset the additional tax burden resulting from the imposition of a minimum tax, to which Par\u00e9s Alicea…(click to continue)<\/a><\/span><\/p>\n

[\/et_pb_text][et_pb_divider color=”#397389″ divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.5″ _module_preset=”default” custom_margin=”||14px|||” custom_padding=”10px||2px|||” global_colors_info=”{}”][\/et_pb_divider][et_pb_button button_url=”https:\/\/comms.bhfs.com\/rv\/ff00b88e0de013fb0fb452649644bbbae434e369″ url_new_window=”on” button_text=”Read More: Speaker Election and Government Funding, Senate’s Minibus Spending Bill, IRS and Cryptocurrency Reporting Rules. Click Here!” button_alignment=”center” disabled_on=”off|off|off” admin_label=”Call to Action Button” _builder_version=”4.22.1″ _module_preset=”default” custom_button=”on” custom_margin=”||23px|||” global_colors_info=”{}”][\/et_pb_button][et_pb_divider color=”#397389″ divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.5″ _module_preset=”default” custom_margin=”||14px|||” custom_padding=”10px||2px|||” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”4″ _builder_version=”4.22.1″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]<\/p>\n

IRS Inundated with Comments on Crypto Reporting Rules As It Braces for 8 Billion Filings.<\/strong>\u00a0On Oct. 25, Internal Revenue Service (IRS) Digital Assets Initiative Project Director Julie Foerster revealed that the agency has received more than 13,000 comments on\u00a0proposed rules<\/a> governing digital asset broker reporting requirements. As of Oct. 29, that number has grown to 26,588, with two weeks still remaining to submit comments. IRS Large Business and International Division Program Manager Bryan Stiernagle stated that, despite the influx of comments, the agency still expects to release final rules regarding cryptocurrency and other digital asset transactions on schedule. The IRS had extended the deadline for public comments from Oct. 30 to Nov. 13, in order to give crypto industry officials more… (click to continue)<\/a><\/span><\/p>\n

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About Brownstein Hyatt Farber Schreck
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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 multi generational businesses<\/a> and protecting a lifetime of savings<\/a> has never been greater. Now more than ever, multi generational businesses<\/a> and family businesses<\/a> are under fire. That’s why Family Enterprise USA<\/a> is passionately working to increase the awareness of issues important to generationally-owned family 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 #taxseason #federaltaxpolicy #taxation #EstateTax #Deathtax #wealthtax #taxLegislation #CongressionalCaucus #CapitalGainsTax #incometaxrates #incometaxseason #taxrefund #taxreturn #incometaxreturn #gifttax #Generationskippingtax #InheritanceTax #repealestatetax #FamilyBusiness #promotefamilybusinesses #familyowned #supportlocalbusiness #womeninbusiness #AdvocatingForFamilyBusinesses #Generationallyowned #Multigenerationalbusiness\u00a0 @FamilyEnterpriseUSA @PolicyAndTaxationGroup @DitchTheEstateTax #FamilyEnterpriseUSA #PolicyAndTaxationGroup #DitchTheEstateTax<\/p>\n

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Johnson Elected Speaker: Shutdown Looms, Year-End Tax Bill Remains a Possibility.\u00a0After a three-week speakership vacancy following Rep. Kevin McCarthy\u2019s (R-CA) removal from the position on Oct. 3, the House voted 220-209 along party lines to elect Rep. Mike Johnson (R-LA) as its new speaker.\u00a0Speaker Johnson, prior to his election, released a\u00a0Dear Colleague Letter on Oct. […]<\/p>\n","protected":false},"author":2,"featured_media":9459,"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":[48,92,78,76,36],"tags":[],"class_list":["post-9452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-multi-generational-business","category-in-the-news","category-income-taxes","category-taxes"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/9452","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=9452"}],"version-history":[{"count":5,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/9452\/revisions"}],"predecessor-version":[{"id":9462,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/9452\/revisions\/9462"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/9459"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}