HR6111DEC8

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Week Ending December 8, 2006

H.R.6111 To amend the Internal Revenue Code of 1986 to provide that the Tax Court may review claims for equitable innocent spouse relief and to suspend the running on the period of limitations while such claims are pending.

{This bill now includes the bills HR 6406 , HR 6408 and provisions of S3711

The tax code is amended to allow the US Tax Court to review a taxpayer’s petition for equitable relief from joint or several tax liability commonly known as ‘innocent spouse relief’.

Note: This bill became the moving vehicle upon which the Trade bill, HR 6406 and the Tax and Healthcare bill, HR 6408 were carried. Rep. Markey (D-MA) attempted an amendment that would, among other things, require oil companies to pay royalties on oil and gas extracted from public land that they have failed to pay due to a loophole in the contract with the government signed at least six years ago. The contracts intended to provide that royalty payments were waived until oil reached somewhere around 35 dollar per barrel but the provision was not included in the contract. Consequently, energy companies have escaped the responsibility of paying some royalties even after oil passed 39 dollars per barrel last year.

To read the details of the trade bill HR 6406 go here and to read the tax and healthcare bill HR 6408 go here.

Sponsor: Rep. Ellen O. Tauscher (D-CA-10^th)

Vote: The vote on HR 6111 was for passage of HR 6111, HR 6406 and HR 6408. Passed House 367 to 45 December 8, 2006 (RC 533) Markey amendment failed 205 to 207 (RC532). The Senate passed the bill. The Senate agreed to invoke cloture on the bill 78 to 10 (RV 278) and then passed the bill(s) 79 to 9 (RV 279) December 9, 2006. Clearing the way for the President's signature.

Cost to the taxpayers: No discernible cost.

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