House and Senate Tax Plans Differ

November 16, 2017

On Nov. 9, Senate Finance Committee Chairman Orrin Hatch (R-Utah) released a Senate version of the Tax Cuts and Jobs Act (H.R. 1). The Senate tax reform proposals would lower business and individual tax rates, modernize U.S. international tax rules, and simplify the tax law, but differ in key aspects...

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Chairman’s Mark Unveiled to Senate Tax Reform Proposal

November 16, 2017

On Nov. 14, Senate Finance Committee Chairman Orrin Hatch (R-Utah) released the modified Chairman’s Mark for the Tax Cuts and Jobs Act, that would repeal the Affordable Care Act’s (ACA’s) individual mandate and sunset a number of individual tax provisions, including the estate tax exemption, to meet a budgetary requirement...

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Tax Reform Bill Details Released

November 8, 2017

NSBA provides a detailed analysis on the recently-released Tax Cuts and Jobs Act of 2017 (H.R. 1) which would have significant impacts on numerous sectors of the economy.

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Tax Reform Bill Expected Soon

November 1, 2017

House leadership announced plans to unveil long-awaited tax reform legislation this week with a committee mark-up scheduled to begin on Nov. 6.

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Pass-Through Tax Rates

October 18, 2017

The new Tax Framework proposes a 25 percent tax on pass-through business income, but would likely limit the lower tax rate to only a portion of pass-through income.

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NSBA Weighs-in on Tax Framework

October 18, 2017

NSBA recently applauded the tax reform framework's efforts to ease complexity, but urged parity among corporate and individual tax rates--where the majority of small-business income is taxed.

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Treasury Withdraws Valuations Rule

October 11, 2017

Treasury has announced plans to withdraw or revise eight regulations promulgated in late 2016 including one that would have nixed "valuation discounts" under the estate tax.

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Tax Reform Update

October 4, 2017

Later this week, the House is set to vote on a 2018 budget resolution, the first step to advance tax reform by a simple majority and avoid a Democratic filibuster.

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Big Six Unveil Tax Reform Framework

September 27, 2017

On Sept. 27, leaders in both chambers of Congress and the administration released the Unified Framework for Fixing Our Broken Tax Code. The framework created by the so-called Big Six provides guidelines for the congressional tax-writing committees as they craft legislation. The group is composed of Speaker Paul Ryan (R-Wis.), Senate Majority...

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