As a member of the National Association of Enrolled Agents, every Friday I get an email with a summary of tax news. Today, I received the Ways & Means Committee’s Version of the new Highway Bill. You can find this document here. On the good news front, the requirement of prepaying offers-in-compromise has been eliminated.
Did you know that there’s up to a $10 excise tax on fishing rods? Yep, and it’s mentioned in the summary. I have no idea what the funds are used for.
On the other hand, the energy bill is also about to pass Congress. As Roth Tax Updates notes, “Pork is Good.” I know there are ethanol provisions in the legislation (ethanol mandates for gasoline), and who knows what other provisions are included in this mammoth, $14.5 billion legislation.
Hat tip: Roth Tax Updates