The Future of the U.S. Tax Code

 

Tax reform legislation is now working its way through the House and Senate. If passed, the “Tax Cuts and Jobs Act” would bring about some of the most substantial changes to the U.S. tax system since 1986. Our editors, reporters, and network of leading practitioners are tracking, reporting, and providing insights and analysis on developments as they unfold. Our editors, reporters, and network of leading practitioners are tracking, reporting, and providing insights and analysis on developments as they unfold.

For reform updates relating to specific areas of tax, select one of the topics on the left.

To catch up on the major events that have happened so far, check out the Tax Reform Tracker, below.

News | Special Reports | Podcasts | Media Coverage | Tax Reform Tracker



NEWS

Tax Reform Proposals Not All Positive for Banking Industry

Banks, with their current high effective tax rates, may be among the biggest winners in tax reform. But provisions of pending legislation—and bank regulations—complicate the outlook, especially for large banks.

Senate Finance Committee Digs Into Tax Plan

The Senate Finance Committee began to wade through its tax reform plan Nov. 13, setting off a marathon markup process that will likely consume the remaining legislative days before Thanksgiving recess.

Senate Passthrough Approach Seen as Simpler Than House’s

The Senate tax plan doesn’t deliver the 25 percent passthrough rate included in the GOP unified tax framework, but it does give partnerships, limited liability companies, and S corporations a more straightforward formula to compute their tax rate, tax practitioners said.

Senate Tax Proposal Would Override ‘Grecian Magnesite’ Decision

The Senate tax reform proposal seeks to override the policy implications of the U.S. Tax Court’s Grecian Magnesite decision, which dealt with the tax consequences of a foreign investor selling its interest in a partnership engaged in a U.S. trade or business.

Trump’s Tax Views Differ From House’s: Sen. Manchin

President Donald Trump disagrees with House Republicans on some aspects of the tax bill, Sen. Joe Manchin (D-W.Va.) said after talking with the president and fellow Senate Democrats.


SPECIAL REPORTS
NEW! Roadmap to to House and Senate Tax Reform Plans

NEW! Roadmap to Key Payroll Provisions of the Tax Cuts and Jobs Act

Tax Reform 2017: How the Unified Framework Would Change Current Law

Federal Tax Reform Impact on States

Check out what you missed in our Twitter #TaxReformChat Tax Reform Lessons: A Look at How It Worked in 1986, And What's Different Now

 


PODCASTS

Navigating the New Partnership Audit Rules

Lisa Starczewski, of Buchanan Ingersoll & Rooney PC, joins Talking Tax with host Andrea Ben-Yosef to give an overview of the new partnership audit rules and proposed regulations.

A Tax Reform Discussion Featuring EY

The Tax Cuts and Jobs Act (H.R. 1) is here, and with it come several considerations for practitioners if the GOP tax reform effort is successful.

Path to Tax Reform Continues, GOP Bill Coming Next Week

Congressional Republicans expect to release a tax bill Nov. 1, and House leaders say they want to hold a vote by Thanksgiving.

Budget Passage Paves Way for GOP Tax Reform Bill

The Senate has passed a budget that opens the door for Republicans to move forward with their tax plan, possibly in the coming week.

Budget Is Must-Do Before GOP Tax Plan Moves Forward

The Senate still needs to pass a budget that includes reconciliation instructions before Republicans can move forward with their tax plan in the next few weeks.


MEDIA COVERAGE

Alex Ruoff on CHIP Reauthorization on C-SPAN

Healthcare Reporter Alex Ruoff appeared in studio on Washington Journal regarding the reauthorization of federal funding for the Children's Health Insurance Program.

Laura Davison on Tax Reform Bill on C-SPAN

Capitol Hill Tax Reporter Laura Davison was a guest on Washington Journal where she discussed the House Republican tax reform bill released the previous day and its potential impact on taxpayers.

Ken Doyle on Tech Giants’ Hearing with Bloomberg Radio

Money & Politics Report’s Ken Doyle appeared on Politics, Policy and Power to discuss Congressional testimony by representatives for Google, Facebook and Twitter regarding Russian interference in the 2016 election.

Colleen Murphy Recaps GOP Tax Plan on PRI’s The Takeaway

Capitol Hill Tax Reporter Colleen Murphy spoke with The Takeaway on the ins and outs of the GOP tax reform bill.

Laura Davison on Status of Tax Bill with Bloomberg Radio

Capitol Hill Tax Reporter Laura Davison was a guest on Bloomberg Surveillance where she detailed the last-minute details that the GOP still needs to iron out before introducing its tax reform bill tomorrow.