As election season looms, Congress sets stage for future tax reform

Tax Hot Topics: Stage set for tax reformCongress is working on a handful of significant tax issues that could prove very important for tax reform in 2017 and 2018. Little if any tax legislation is expected this year, but ideas discussed today are likely to serve as the basis for future legislative action. Tax writers have held hearings and introduced proposals on various aspects of reform, including:

  • Corporate integration
  • Business equivalency
  • International reform
  • Derivative treatment
  • Depreciation
  • Value-added and consumption taxes

Tax Legislative Update 2016-02 discusses what’s expected for tax legislation for the rest of the year, and describes how the current proposals fit into the outlook for tax reform. The side-by-side comparison of the tax platforms of the presidential candidates has been updated to provide expanded information on the two leading candidates.            

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