WASHINGTON-The President's Advisory Panel on Federal Tax Reform has scheduled two meetings in September. The group will meet publicly Sept. 8 and 15, but will only allow for written public comment, just before its Sept. 30 deadline to get its recommendations to the Treasury Department for a "revenue-neutral" policy. This will be the group's 11th and 12th meetings. CUNA, NAFCU and NASCUS have all been following the advisory panel closely and previously submitted comments outlining the reasons for the credit union tax-exemption. NASCUS also wrote on the subject of Unrelated Business Income Tax, which caused a stir between it and NAFCU. The President's Advisory Panel on Federal Tax Reform was established Jan. 7, 2005. The group is charged with recommending reforms to the tax code by September 30, 2005, that will make the U.S. tax system simpler, fairer and more growth oriented.
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