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US Tax Reform

Middle-class tax cut will not be focus of Trump administration’s efforts

Thomson Reuters Tax & Accounting  

Thomson Reuters Tax & Accounting  

As reported by Reuters, Treasury Secretary Steve Mnuchin has said that a proposed middle-class tax cut that President Trump floated just ahead of the recent November elections is not a focus of the administration’s efforts on taxes. Instead, Mnuchin said that the administration would focus its efforts on fixing issues with the 2017 tax reform law, the Tax Cuts and Jobs Act (TCJA, P.L. 115-97, 12/22/2017).

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Senate passes IRS reform bill

The Senate passed the Taxpayer First  Act (H.R. 3151) on Thursday, June 13 by a voice vote. The bill includes …