House Ways and Means Releases Partial Tax Bill Text
On Friday, May 9, the Ways and Means Committee shared partial text for the tax portion of a reconciliation bill …
The Future of the Child Tax Credit
With many provisions of the 2017 Tax Cuts and Jobs Act (TCJA, P.L. 115-97) set to expire at year end and …
Final IRS Regs Possibly Subject to Congressional Review
The Treasury Department during the Biden administration used its final months to finalize or correct several IRS regs, including guidance …
On Menu of Tax Reform Options: Cutting SALT Deduction
As tax discussions ramp up, Republicans have compiled a lengthy menu of options, including five that would revise the deduction …
End Direct File on ‘Day One,’ Say House Republicans
Representative Adrian Smith (R-NE), joined by 27 House Republicans, urged President-elect Donald Trump to immediately end the IRS’ free e-filing …
The Tax Legislation Equation
Republicans have a “math problem,” a KPMG policy expert concluded, because extending tax cuts, the potential revenue raisers, and the …
Tax Advantages of Single-member LLCs Making an S Corp Election
Practitioner’s Tax Action Bulletin® Advisory Fall is the time for tax planning and advisory services. Tax practitioners should have a …
Final Regs Allow Certain Co-Owned Elective Pay Entities to Opt Out of Partnership Treatment
The IRS finalized regs providing guidance on how clean energy projects with multiple owners can elect to not be treated …
Key 2025 Figures Calculated by Thomson Reuters Checkpoint Based on Inflation Data Now Available
Many tax, expensing, and penalty figures are adjusted annually for cost-of-living increases. These adjustments reflect the average chained Consumer Price …
Harris, GOP Taxwriters Exchange Blows on Child Tax Credit Policy
Recent timeline. The Tax Cuts and Jobs Act (P.L. 115-97, TCJA) of 2017 made several temporary changes to the CTC that …