Tax treatment of pass-throughs debated at tax simplification hearing

03/7/2011 | JournalofAccountancy.com

At a hearing on tax reform and small business held by the House Ways and Means Subcommittee on Select Revenue Measures on March 3, witnesses reacted to Treasury Secretary Timothy Geithner's suggestion that Congress consider whether pass-through entities should lose their pass-through status. A number of witnesses, including Patricia Thompson, chair of the AICPA's Tax Executive Committee, testified that losing pass-through status would hurt small businesses. She also addressed broader tax policy and reform issues.

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