The Future of the U.S. Tax Code

 

Both the Senate and the House have now passed tax reform bills, but there are differences between the two bills that must be resolved before final legislation can reach the president’s desk for signature. 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.

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

Speed Not IRS’s Friend as Agency Looks to Implement Tax Reforms

Tax reform legislation is working its way through Congress at breakneck speed, but while quick passage may be desirable to Republican lawmakers looking for a legislative win, it may make the IRS’s job of implementing the law a whole lot harder.

Lending to U.S. Companies Imperiled by Tax Reform: Foreign Banks

Leading Asian, European, and Canadian banks have warned that lending to U.S. companies and consumers could dry up under U.S. Senate-approved tax reform provisions designed to clamp down on base erosion and tax avoidance.

Federal Changes to State Tax Deduction May Threaten State Budgets

State budgets could take a hit if the federal government eliminates or limits the ability of taxpayers to deduct state and local taxes, according to a representative from the National Conference of State Legislatures.

Senate Bill Offers Better Benefits for Law, Accounting Firms

Partners in small law and accounting firms may favor the Senate tax bill’s pass-through provisions over the House version’s.

House, Senate Jockey for Pass-Through Position Before Tax Talks

Pass-through taxation represents one of the biggest rifts between the House and Senate tax reform plans, a difference that will have to be resolved before a bill can become law.


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

AMT Survival and Pass-Through Provisions: EY Talks Tax Reform

Lawmakers will need to hash out final details on the individual side of the tax code if they want to meet their end-of-the-year deadline to pass tax reform legislation.

Negotiations Begin After Senate Clears Bill

House and Senate lawmakers will begin to reconcile their tax plans this week with the hope of getting a bill to President Donald Trump before the end of the year.

Tax Reform Still Possible by End of Year

Reporter Laura Davison spoke with Talking Tax host Matthew Beddingfield on Nov. 21 about the GOP's chances for successfully passing the tax plan and what difficulties lie ahead.

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.


MEDIA COVERAGE

Stu Basu on the Corporate Rate with Bloomberg Radio

Capitol Hill Tax Reporter Stu Basu discusses the ongoing GOP effort surrounding the tax overhaul and the debate over the corporate tax rate on Politics, Policy and Power.

Stu Basu on Tax Bill Timing with Bloomberg Radio

Tax Reporter Stu Basu lays out the unresolved issues before the tax bill can be sent to President Trump on Bloomberg Surveillance.

Stu Basu on Tax Reform’s Home Stretch with Bloomberg Radio

Capitol Hill Tax Reporter Stu Basu discusses the home stretch for tax reform on Bloomberg Surveillance.

Laura Davison Discusses Tax Bill Debate on Multiple Outlets

Bloomberg Tax Reporter Laura Davison appeared on Bloomberg Markets, Bloomberg Surveillance, and WNYC's The Takeaway to provide an update on the tax bill as it progresses through the Senate.

Shaun Courtney on Infrastructure with Bloomberg Radio

Transportation Reporter Shaun Courtney appeared on Bloomberg Surveillance on the absence of infrastructure investment in the current tax reform legislation.