At a hearing held earlier today (March 7) by the House Ways and Means Committee on The Treatment of Closely Held Busineses in the Context of Tax Reform, FEI member Mark Smetana, CFO of Eby-Brown Company, testified that tax reform must deal fairly with privately held and family owned companies. (See FEI press release
; Testimony of Mark Smetana
As noted in the Hearing Advisory
, this was the second hearing sponsored by the House Ways and Means Committee on the subject of tax, accounting and tax reform.
Smetana is the former Chairman of FEI's Committee on Private Company - Policy
and one of the thought leaders behind the formation of FEI's Private Company Roundtable
. FEI members interested in CPC-P or the Private Company Roundtable should contact Tyler Roberts
in FEI's Government Affairs office.
Others testifying at the March 7 hearing included Dewey W. Martin
on behalf of the National Federation of Independent Businesses, Stefan F. Tucker,
Partner, Venable LLP, Jeffrey Kwall,
Loyola Univ. School of Law, Tom Nichols,
Meissner Tierney Fisher & Nichols S.C., and Martin A. Sullivan,
Contributing Editor, Tax Analysts.
Earlier hearing focused on public companies
Read FEI's summary of the first (February 8) House Ways and Means Committee hearing on accounting, tax and tax reform
. The February 8 hearing focused more on publicly-held companies whereas the March 7 hearing focused on private companies.