Joint Committee on Taxation Law and Legal Definition
The Joint Committee on Taxation is a commission of Congress established under the Internal Revenue Code. The Joint Committee is composed of members from the Senate Finance Committee and the House Ways and Means Committee.
The responsibilities of the Joint Committee include:
a. To investigating the operation, effects, and administration of internal revenue taxes;
b. to investigate measures and methods for the simplification of taxes;
c. to make reports on the results of those investigations and studies and make recommendations; and
d. to review any proposed refund or credit of taxes in excess of $2,000,000.