ALRIGHT, IS IT TIME YET? So now that this Thanksgiving holiday is out of the way, is it time for year-end tax negotiations to start heating up?
Well, we’ll see about that.
Democrats and Republicans have had some initial conversations about where taxes stand in fuller year-end discussions, according to people on the Hill.
But there’s a lot that remains in flux. Democrats still need to figure out what improvements to the Child Tax Credit are at the top of their list in negotiations with Republicans, in case there can be some larger deal that would also involve expanded tax incentives for businesses.
That’s far from all, either: In the end, taxes are likely but a supporting player in the year-end drama, so the broader bipartisan talks over a more ambitious government funding measure and other items will certainly influence what can get done on taxes.
For now, the big date to remember is about two-and-a-half weeks away — Dec. 16, which is when the current round of government funding runs out and the current deadline for top appropriators to score that larger spending measure.
But here’s another date to keep in mind, as Tax Notes’ Doug Sword pointed out recently — Dec. 6, the date of the Georgia runoff for Senate, after which both parties will know for sure the composition of next year’s Congress. Once that happens, congressional leaders might have all the information they need to really get down to business.
And just as a reminder — here’s what lawmakers potentially are considering on the tax side, outside of improvements to the child credit and priorities for business, like allowing immediate deductions for research costs and a more generous write-off for interest on debt.

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