|On June 20, the U.S. Department of the Treasury will host the first-ever Tribal Treasury Advisory Committee (TTAC) meeting in Washington, D.C. The TTAC, which was authorized by the General Welfare Exclusion Act of 2014 (P.L. 113-168), is charged with advising the Secretary of the Treasury "on matters relating to the taxation of Indians."|
The meeting is open to the public and will take place at the U.S. Department of the Treasury from 9:00 a.m. to 4:30 p.m. EDT. During the meeting, the seven TTAC members will be introduced, after which they will appoint Co-Chairs, review the TTAC’s Charter and mandate, and discuss various federal income tax issues relating to tribal governments and individual Native Americans, such as federal income tax issues relating to access to capital, Opportunity Zones, general welfare exclusion education for IRS field agents, and changes to the “kiddie tax." The TTAC will also identify other topics of importance for 2019 and take necessary actions to fulfill the TTAC’s mandate.
NAFOA has worked closely with Treasury and TTAC members over the last five years to facilitate the formation of the TTAC and will continue to serve in an advisory role now that the committee is operational. For more information, including TTAC members, visit NAFOA's TTAC webpage.