Bloomberg BNA’s Daily Tax Report released its 2017 Outlook, forecasting major changes to tax and accounting policies under the incoming Trump Administration and a Republican Congress.
“There is no doubt that 2017 will be a milestone year for tax policy along the lines of 1986 and 1954,” said George Farrah, editorial director of tax and accounting at Bloomberg BNA. “Every area of tax is going to be impacted, not only by a tax overhaul but also by the likely repeal of Obamacare, potential elimination of some major tax regulations, and changes in evolving state tax laws and policies.” “These are monumental changes,” he said, noting that the federal area could see a rewrite of the entire Tax Code. “Some of the pieces of that which seem likely are changes in tax rates, the elimination of the corporate minimum tax, border adjustments, IRS restructuring, a move towards a territorial tax system, and repeal of the estate tax,” he said. Read Article: www.accountingtoday.com/news/monumental-changes-in-store-for-tax-policy-in-new-year Comments are closed.
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September 2017
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