Puerto Rico Loophole Utilized by UBS Targeted by House Lawmaker
Congressman plans to introduced bill to eliminate the island's exemption from the Investment Company Act of 1940.
Call for Repeal of 1099 Tax Reporting Rule by Leading Democrat
Rep. Nydia Velazquez, D-N.Y., ranking member on the House Committee on Small Business, is calling for repeal of a new tax reporting rule enacted as part of health care reform called “1099 reporting,” which requires businesses to report nearly all expenses exceeding $600 to the IRS.
House Financial Services Releases List of Democrats to Fill Six Subcommittees
Rep. Barney Frank, D-Mass., Ranking Member of the House Financial Services Committee, has announced the Committee’s six subcommittee Ranking Members along with the Democratic members of those committees.