Alerts and Press Releases

What Would the Republican Framework for Corporate Tax Reform Mean for Your Business?

Posted on: October 10, 2017

Corporate tax reform has been a hot topic for many months and it’s now beginning to be addressed in Washington in a little more (but not a lot more) detail. On September 27, the President and Republican congressional leaders released the nine-page “Unified Framework for Fixing Our Broken Tax Code,” which includes a framework for corporate tax reform. Many businesses and their owners are wondering how corporate tax reform could affect them. The framework is a bit sparse on details, but let’s shed some light on those it does include.

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Many Blanks Still Need to be Filled in on what Republican Tax Reform Framework Will Mean for Individual Taxpayers

Posted on: October 9, 2017

In the days following the release of the proposed Republican “framework” for implementing tax reform, issues have been raised about its contents. For example, some analysts and organizations have argued that large tax cuts would significantly increase the deficit if the economic growth projected by Republicans fails to materialize.

Read the full alert here.

GOP’s Proposed Tax Reform Plan Significantly Changes the Rules for Individuals and Businesses

Posted on: October 2, 2017

Earlier this week, U.S. Senate Republicans declined to vote on the Graham-Cassidy health care bill because there weren’t enough votes to pass it. Yesterday, President Trump and Republican congressional leaders turned their attention to tax reform by releasing an outline of their long-awaited tax reform plan. The nine-page “Unified Framework for Fixing Our Broken Tax Code” is intended to serve as a template for the congressional committees to draft legislation to cut tax rates, simplify the tax code and provide a more competitive environment for businesses. It addresses tax issues that affect both individuals and businesses.

Read the full alert here.

Tax Alert: Trump Administration Signals Employer-Friendly Shift

Posted on: September 11, 2017

The U.S. Department of Labor (DOL) has begun taking steps to loosen the reins on employers, turning away from some Obama administration initiatives. While recent actions indicate that the crackdown on joint employers and employers using independent contractors is over, it’s important to remember that employment-related tax laws are enforced not by the DOL but by the IRS — so these changes have no effect on liability for payroll taxes. In particular, a worker who would be considered an independent contractor by the DOL could nonetheless be deemed an employee for tax purposes.

Read the full alert here.