What’s next for tax reform?

The House and Senate’s self-imposed deadline of Wednesday, December 13th to reconcile their two plans into one final tax reform plan seems to be at a bit of a halt. At this point, it seems that the joint plan should be final by year end.

When/will the tax reform plan be passed?

Trump is delivering a “closing argument” this week after which the House and Senate will complete a final consensus bill and vote on it thereafter. It is expected to be on the President’s desk by next week, and provided he signs it, the bill will then be officially signed into legislation.

In the meantime, we have compiled a comparison chart between the two bills and current law, and a brief overview of Trump’s plan as well.

What tax deductions are on the chopping block? How much will individual tax rates change? Download our Tax Reform Comparison Chart for an overview on what could change according to the proposals of the House, Senate, and President Trump.

Contact our Tax Services Team for more information.

Wondering how tax reform could impact you or your business? Stay tuned for more information on our upcoming webinar.