NEW YORK, March 4, 2014 /PRNewswire/ -- KPMG's Tax Governance Institute (TGI) will examine the recently released "comprehensive discussion draft" from U.S. House Ways and Means Committee Chairman Dave Camp (R-Mich.) to overhaul the Internal Revenue Code and tax proposals in the Obama Administration's Fiscal Year 2015 budget during a live video webcast on Friday, March 7, from 1:30 p.m. to 3 p.m. (ET). The proposals could dramatically alter the way business income is taxed in the U.S.
The Camp plan, issued on Feb. 26, would curtail certain tax preferences, lower overall tax rates, and simplify the tax system. Some of the proposals in the Obama Administration's FY15 budget are designed to combat alleged erosion of the U.S. tax base.
Board and audit committee members, CFOs, tax directors, and other business professionals interested in attending the program, which will feature a distinguished group of panelists, can register here.
"Even if comprehensive tax reform does not advance this year, these proposals will create a context for debate and could serve as a template for subsequent reform efforts," said Hank Gutman, director of TGI, former chief of staff of the U.S. Congressional Joint Committee on Taxation, and panel moderator. "Business leaders need to understand what these proposals contain now so that they can begin preparing for their possible implications."
The 90-minute webcast panel discussion will look at the theory, substance, and potential effects of the adoption of the Camp and Obama Administration proposals.
Panelists on KPMG's TGI webcast will include:
- Ray Beeman, tax counsel and special advisor for tax reform, U.S. House Ways and Means Committee.
- Marty Sullivan, chief economist at Tax Analysts, the non-profit provider of tax news and analysis for the global community.
- Manal Corwin, national leader of KPMG's International Tax practice and principal-in-charge of International Tax Policy in the firm's Washington National Tax practice, and former deputy assistant secretary for International Tax Affairs in the Office of Tax Policy at the U.S. Department of the Treasury.
The March 7 event is the first in a series of planned webcasts that will feature KPMG tax professionals discussing the technical details of the proposals.
Part of the KPMG Institute Network (www.kpmginstitutes.com), the Tax Governance Institute (www.taxgovernanceinstitute.com) provides opportunities for board members, corporate management, stakeholders, government representatives and others to share knowledge regarding the identification, oversight, management, and appropriate disclosure of tax risk.
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KPMG LLP, the audit, tax and advisory firm (www.us.kpmg.com), is the U.S. member firm of KPMG International Cooperative ("KPMG International"). KPMG International's member firms have 155,000 professionals, including more than 8,600 partners, in 155 countries.
SOURCE KPMG LLP