The House of Representatives reapproved tax reform legislation on Wednesday, sending the bill to President Donald Trump for his signature.
The Senate voted early today in favor of the Tax Cuts and Jobs Act, H.R. 1, which the House of Representatives had approved Tuesday.
The House tax reform bill contains a large number of proposed changes that would affect businesses.
The expiring provisions include tax incentives for individuals and businesses, as well as several energy provisions.
Taxing authorities have sought to incorporate adequate lead time into the tax filing process.
The legislation curbs a popular tax planning strategy by severely restricting the application of tax-free spinoff treatment.
This column provides a summary of the bills enacted last year that included tax changes.
The Consolidated Appropriations Act extends an extensive list of expired tax provisions, some permanently, some for five years, and many for two years, through 2016.
The so-called Cadillac plan excise tax is now scheduled to take effect in 2020.
In addition to a proposed spending blueprint for the government, President Barack Obama’s proposed FY 2017 federal budget contains a wide variety of tax law changes that would affect individuals and businesses.
The Consolidated Appropriations Act introduced in Congress on Wednesday would extend a large number of expired tax provisions.
The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 contains several important tax provisions.
The Senate passed a bill to retroactively extend more than 50 expired tax provisions through 2014, by a vote of 76-16 on the evening of Dec. 16. The extender bill passed the House of Representatives on Dec. 3, and was signed by President Barack Obama on Dec. 19.
President Barack Obama on Friday signed into law the Tax Increase Prevention Act of 2014, which retroactively extends more than 50 expired tax provisions through 2014.
The Senate passed a bill to retroactively extend more than 50 expired tax provisions through 2014, by a vote of 76–16 on Tuesday evening. The extender bill passed the House of Representatives on Dec. 3, and it now goes to President Barack Obama for his signature.
The president's proposed FY 2014 budget aims to raise approximately $580 billion in revenue through new taxes, limits on deductions, and other tax proposals.
The “fiscal cliff” legislation enacted on Jan. 2—the American Taxpayer Relief Act, P.L. 112-240—contains a large number of tax provisions.
Congress preserved most of the George W. Bush-era tax cuts and extended many other lapsed tax provisions.
Congress adjourned its year-end lame-duck session on December 22 after passing legislative fixes for several pending tax issues, including the estate tax, the expiration of the 2001 and 2003 tax cuts, an alternative minimum tax (AMT) patch, and extensions of many expired provisions. However, it failed to repeal the expanded Form 1099 reporting requirements that were enacted as part of this spring’s health care reform legislation.