The Bill is intended to build on the Final Guidancereleased by the Internal Revenue Service (IRS) in June 2014 and directs the Treasury Department to (1) establish a Tribal Advisory Committee to advise the IRS and Treasury on matters relating to taxation of Indians; (2) establish and provide training and education for IRS agents and tribal financial officers about the new provisions; and (3) suspend audits and examinations of Indian tribal governments members related to the general welfare exclusion until this education has been provided. The Joint Committee on Taxation has scored H.R. 3043 to have a negligible effect on federal revenues.
The Bill will now go to the Senate for consideration under Unanimous Consent. The expectation is that the Senate will vote on the bill shortly as it looks to finish business this week before going on recess.
For more information, please contact Kayla Gebeck, Kayla@nafoa.org or (202) 770-8321.