Trump Floats ‘Major’ Tax Cut for Middle Class

President Trump in the past few days has pledged a “major tax cut” for middle class Americans, though Republican lawmakers say they will be hard pressed to pass a plan this year. Trump first floated the tax cut last weekend, saying that his administration is “studying very deeply right now round the clock a major… Read more »

Brady Introduces Tax Reform 2.0 Framework

House Republicans on July 24 unveiled a broad framework for the next phase of tax reform, which would make permanent tax cuts for individuals and small business owners that were enacted in last year’s tax law. Dubbed “Tax Reform 2.0,” the package has three distinct objectives: making the individual tax cuts permanent, promoting retirement savings,… Read more »

Brady to Release ‘Tax Reform 2.0’ Next Week

House Ways and Means Committee Chairman Kevin Brady (R-TX) said July 18 he plans on releasing an outline of his “Tax Reform 2.0” package next week. Brady’s outline is expected to include a number of tax bills that could be passed at the same time this fall, including a measure to make permanent some of… Read more »

Brady to Push ‘Tax Reform 2.0’ Before Recess

Ways and Means Committee Chairman Kevin Brady (R-TX) confirmed this week he expects to have another tax bill, dubbed “tax reform 2.0,” ready before the House breaks for the August recess. The White House and House leaders are interested in changes to the tax code that would serve as a follow-up to the tax law… Read more »

Association Tax Concerns Remain Unanswered

The Tax Cuts and Jobs Act of 2017 includes two new taxes that are concerning to association professionals, and in both cases, the Treasury Department and the IRS have not released the guidance necessary for associations to calculate the tax, despite estimated tax payments due this Friday (June 15). These issues are: • a new income… Read more »