Tax Reform Winners and Losers – Everyone Gets Complexity

As anticipated, on Friday evening the ongoing Conference Committee between the House and Senate came to a close, and their final version of the Tax Cuts and Jobs Act was released to the public. Though the Conference adhered heavily to the Senate version of the act because of the Senate’s narrower majority of Republicans, the Conference made significant compromises in a number of key areas in the bill.

This edition of Tax Advisor Weekly highlights the key corporate provisions along with some initial insights. See below for:

• A chart of the core provisions affecting corporations
• A handful of other noteworthy changes
• An important list of notable omissions from the Conference Committee bill

Next steps: Both the House and Senate are planning to vote on the bill this week, and if all goes according to plan, this bill could find its way to the President’s desk by the end of the week. It looks as if the GOP will likely come through on their promise of passing tax reform before year-end.

The first order of business for many companies will be to complete their toll-charge calculations. See this edition of Tax Advisory Weekly for tips and more information.

We will of course be sending more detailed updates and insights. In the meantime, don’t hesitate to reach out to your A&M team about details of the bill or our views on its impact.

Key Business Provisions…

https://www.alvarezandmarsal.com/insights/key-corporate-provisions-latest-version-tax-bill