lobbying_activities: 2769950
Data license: Public Domain (U.S. Government data) · Data source: Federal Register API & Regulations.gov API
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| id | filing_uuid | filing_type | registrant_name | registrant_id | client_name | filing_year | filing_period | issue_code | specific_issues | government_entities | income_amount | expense_amount | is_no_activity | is_termination | received_date |
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| 2769950 | 2c8ea0d0-b6a4-410a-81ec-e2ab76a8e710 | Q1 | RECREATION VEHICLE DEALERS ASSOCIATION OF NORTH AMERICA | 401102073 | RECREATION VEHICLE DEALERS ASSOCIATION OF NORTH AMERICA | 2022 | first_quarter | TAX | Travel Trailer and Camper Tax Parity Act (H.R. 4349) Under tax reform legislation signed into law in December 2017, a deduction for interest paid on RV dealer inventory inadvertently excluded non-motorized travel trailers. The House and Senate versions of tax reform legislation specifically intended to include towable RVs as motor vehicles, but the final version of the Tax Cuts and Jobs Act (TCJA) simplified the definition of motor vehicles. As a result, the full tax exemption now only applies to RV motorhomes, putting the RV travel trailer industry at a disadvantage and forcing larger dealers to use different accounting rules for trailers and motorhomes. According to the RV Industry Association (RVIA), approximately 88 percent of RVs sold are travel trailers. The Travel Trailer and Camper Tax Parity Act would restore the full deductibility of inventory financing interest for all types of RVs, including motorhomes, travel trailers, and campers, as originally intended by Congress. Opposition to New Tax Information Reporting Proposal RVDA signed onto a letter with 100+ other national associations to express our strong opposition to the proposed new tax information reporting regime as described by the Department of Treasury, that would impact almost every American who has an account at a financial institution. The proposal will require providers of financial services to track and submit to the IRS information on the inflows and outflows of every account above a de minimis threshold of $600 during the year. Intended to help the IRS target wealthy tax dodgers, the unintended consequence is the overly broad proposal will directly impact almost every American and small business with an account at a financial institution. This proposal would create serious financial privacy concerns, increase tax preparation costs for individuals and small businesses, and create significant operational challenges for financial institutions. While recent proposals suggest that increasing the de minimis threshold to $10,000 is less objectionable, this is a flawed assumption and will not significantly reduce the scale of this new IRS program. | HOUSE OF REPRESENTATIVES,SENATE | 0 | 0 | 2022-04-05T12:34:49-04:00 |