What made it into the Tax Reform 2.0 bills?
On Sept. 10, the House Ways and Means Committee released three bills that comprise “Tax Reform 2.0.” This article takes …
Prop regs on Sec. 965 transition tax: E&P and basis adjustments, affiliated groups, and Sec. 986(c)
IRS has issued proposed regs under Code Sec. 965, the “mandatory repatriation” provision added to the Code by the Tax Cuts …
Trump administration considers taking inflation into account when taxing capital gains
David Morgan As reported by Reuters, the Trump administration is considering bypassing Congress to grant a $100 billion tax cut …
Republican tax plans include making U.S. cuts permanent -documents
By Lisa Lambert, David Morgan and Bill Trott WASHINGTON (Reuters) – Republican plans to build on last year’s U.S. tax …
Ways & Means Chair releases Phase 2 tax reform discussion draft
On July 24, House Ways and Means Committee Chairman Kevin Brady (R-TX) released a “listening session framework” outlining some of …
House Committee approves bills on health care reform, taxes
The House Ways and Means Committee on July 13 approved eleven bills which focus on delaying the implementation of some …
IRS casts doubt on 2017 deduction for 2018 NJ property taxes paid in 2017
Information Letter 2018-0009 In an Information Letter, IRS has implied that actions taken in Dec. 2017 by then New Jersey …
Trump expects new tax law in October with even lower corporate rate
As reported by Reuters, President Trump said he expects a second tax overhaul to be unveiled in October or a …
What’s new for 2018: Game-changing tax overhaul in place for individuals—Part II
The new tax year is a true game-changer for taxpayers and their advisers, as many fundamental, decades-old tax rules have …
Banks, Insurers Get Relief From Accounting Effects of Tax Law Change
The FASB updated U.S. GAAP to alleviate concerns from banks and insurance companies about the accounting implications of the Tax …