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Post-2016 Tax Return Filing Season Brings Focus Back to Tax Reform

Wolters Kluwer Tax & Accounting Experts Provide Insight into What to Expect in Tax Changes Now That the 2016 Tax Return Filing Season Is Behind Us

What: During the 2016 tax return filing season, Congress failed in their efforts to repeal and replace the Affordable Care Act. President Trump has promised a tax reform proposal for a couple of months and has said his Administration will provide a high-level plan this Wednesday. With the filing season behind us, the focus now shifts to further efforts to repeal and reform the Affordable Care Act, including the several taxes included therein, and on fundamental tax reform. President Trump has also issued a number of executive orders and a proposed budget that also have significant impact on the IRS.

With the Administration’s tax proposals expected shortly and still pushing to achieve health care repeal and reform before tax reform, taxpayers are bound to see changes in tax legislation this year. Wolters Kluwer Tax & Accounting is closely monitoring these developments and has just released a new tax briefing providing a 2017 post-filing season update. Additionally, Wolters Kluwer tax experts are available to provide insight and analysis on what tax changes individuals and businesses can expect for the rest of the year.

Why: With Republicans in control of both the Administration and Congress for the first time in many years, many are predicting that 2017 could be the most significant year we have had for tax changes since 1986.

Who: Mark Luscombe, JD, LLM, CPA and Principal Federal Tax Analyst for Wolters Kluwer Tax & Accounting. Among the topics Mark can discuss:

· Key components of President Trump’s tax plans when they are issued
· Key components of tax reform plans in Congress
· How health care repeal and reform may interact with tax reform
· How might Congressional tax proposals work with Trump’s tax proposals
· How likely is President Trump and/or Congress to get their tax policies implemented
· What has been the impact of President Trump’s executive orders and budget proposals on the IRS
· Other tax-related issues that are likely to arise during the remainder of the year

To download the new Wolters Kluwer tax briefing, “2017 Post-Filing Season Update,” click here.