Focus of the Hearing:
The hearing, which continues both committees’ work on tax reform, will examine the complex relationship between the tax code and financial products. The committees will consider how Congress should respond to the potentially inconsistent tax treatment of economically similar financial products, so that such products are structured to meet economic and business purposes rather than to meet tax planning objectives. The hearing will also focus on how well the tax code has responded to the evolving financial products market and how tax reform can help the Congress and Treasury stay informed of, and keep pace with, that evolution.
Mr. Thomas A. Barthold
Chief of Staff, Joint Committee On Taxation