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Tax reform one year later: Winners and losers

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Businessman at his deskNearly a year ago, Congress enacted the Tax Cut and Jobs Act (TCJA), ushering in the most sweeping tax reform in more than two decades. The legislation was intended to encourage businesses to invest tax savings and defer offshore earnings into expenditure projects and employee wages, boosting economic growth. But did it work?

In this podcast, Dustin Stamper and David Auclair, of Grant Thornton’s Washington National Tax Office, weigh in on the impact tax reform has had this past year, who were the biggest winners and losers and what impacts will be the focus in 2019.

As Stamper noted, “The important takeaway for businesses is to understand that regardless of whose version of the economic story you believe, tax reform is a huge monumental change to how you do tax planning, and in some cases, business planning. The Tax Cut and Jobs Act represents a $1.5 trillion tax cut over ten years. In a lot of ways, there are many more winners than losers.”

Grant Thornton’s tax leaders analyze the impact of tax reform over the past year. In the podcast, they answer a number of key questions including:

  • How effective has the Tax Cuts and Jobs Act been in encouraging investment in U.S. businesses and spurring economic growth?
  • Who have been the primary winners and losers of tax reform?
  • Over the last 12 months, what areas of tax reform have resulted in the greatest compliance challenges for businesses?
  • What’s been the most overlooked impact of tax reform?
  • What areas of the tax bill still present the greatest uncertainty or confusion?
  • What’s the outlook for a resolution in these areas over the next few years?

Listen now for details about the impact of tax reform and what businesses can expect in 2019.



Contacts:

Dustin StamperDustin Stamper
Managing Director
Washington National Tax Office
T +1 202 861 4144

David AuclairDavid Auclair
National Managing Principal
Washington National Tax Office
T +1 202 521 1515