At a March 20th hearing held by the House Ways Means Subcommittee on Select Revenue, a panel of tax academics, accountants, and tax policy advocates and practitioners addressed the concept of applying mark-to-market taxation to many financial products, as proposed in a draft tax reform proposal released by House Ways Means Chairman Dave Camp (R-Mich.) in January. The hearing was called to address technical issues raised by the financial products tax reform proposal that would, among other provisions, require most derivatives (except those used in certain hedging transactions) to be marked-to

The IRS and the U.S. Treasury Department examined proposed regulations to the Internal Revenue Code that would recharacterize certain debt instruments issued to related parties as equity for U.S. federal income tax purposes.

The Internal Revenue Service and the Treasury will hold a public hearing to review jointly proposed debt-equity regulations. The proposed regulations were published in the Federal Register.

U.S. Senate Finance Committee members and industry experts debated recommendations on business tax reform.

The Senate Finance Committee announced it will hold a hearing on July 22, 2014 to discuss corporate inversions as well as other international tax issues. According to a letter written by Secretary of the Treasury Jacob Lew to the the House Committee on Ways and Means, there have been recent reports of a number of corporate inversion transactions "designed to change the tax domicile of a U.S.-based multinational firm" involving the purchase of a foreign corporation, the transfer of tax domicile to the foreign firm's country of incorporation, and the shifting of tax liability for the combined