Your ultimate, digital resource on H.R.1
By Bob Nihen and Taylor Ovalle
When President Trump signed into law H.R.1 in December 2017, it marked the culmination of a lengthy process in pursuit of business tax reform that encompassed more than 20 years.
Recognizing that the new law could present challenges for corporations and individuals alike, KPMG released a digital resource that includes detailed analysis and observations on the new law.
Within the guide, you’ll find a summary of the recent history of H.R.1, its major changes, and the possible need for subsequent corrective legislation. You’ll also find easy-to-understand explanations and accompanying charts, as well as sidebar observations from KPMG professionals on possible technical “glitches” in the law, the new partnership deduction regime, the breadth of the new BEAT, and calculation of the new global minimum tax, just to name a few.
“The book is the latest in a series of thought leadership pieces from KPMG aimed to help individuals and companies stay informed on the path to tax reform, and now, on the components of the new law,” said John Gimigliano, Partner-in-Charge of Federal Tax Legislative and Regulatory Services. “Our hope is that corporate and individual taxpayers will find the insights and information useful in the months and years ahead as they operate in the new tax landscape.”
Read KPMG’s initial comments on the Congressional passage of sweeping tax reform legislation.