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Republican Retirements: Blue Wave, Red Tide, or status quo?

Nineteen Republican Members of the House of Representatives have announced their retirements from Congress this year. While this sounds consequential and has raised alarm bells in the media, these retirements likely do not signal serious changes to come in the party make up in the House. Not every retirement is the same, but we do...

Committees of Jurisdiction: House Committee on Financial Services

The House Committee on Financial Services was originally formed on December 11th, 1865, as the Banking and Currency Committee, to relieve the House Ways and Means Committee of part of its workload. The Committee’s jurisdiction in the early days included oversight of national banks and bank loans, authorization of bond issues, and investigations of failed…

Stack Business and Charitable Deductions for Maximum Savings

The Pass-Through Income Deduction under Code Section 199A (“199A Deduction”), allows taxpayers to deduct up to 20% of their pass-through business income. However, the deduction is either eliminated or limited when a taxpayer’s taxable income exceeds certain thresholds. Despite this limitation, charitably inclined high earners can stack tax savings by strategically making charitable gifts to…

Treasury Department Releases Final Transfer for Value Regulations

October 28, 2019 WRN 19.10.28 Treasury Department Releases Final Transfer for Value Regulations Late Friday, the Treasury Department issued final regulations regarding reportable policy sales stemming from changes in the Tax Cuts and Jobs Act (TCJA). We are still reviewing the final regulations, however, it is clear that Treasury was responsive to AALU feedback about…