Tagnational tax attorney

Tax Reform Pushing Ahead

By:  Amanda Wilson

Despite the political controversy swirling around the firing of James Comey and the appointment of a special prosecutor, the White House and Republicans are determined to push forward with tax reform.  Later this week, Treasury Secretary Steven Mnuchin will testify on Trump’s Budget Proposal before the House Ways and Means Committee, the committee drafting the House of Representatives tax reform bill.  The House Ways and Means Committee also held a hearing last week on “How Tax Reform Will Grow Our Economy and Create Jobs.”

WH: Trump Pushing for 15% Corporate Tax Rate and Repeal 3.8% NIIT

Magnifying Glass and Tax

By:  Amanda Wilson

The White House announced today that reducing the corporate income tax rate to 15% and repealing the 3.8 % net investment income tax are top priorities for tax reform.  The 3.8% NIIT was implemented as part of ACA/Obamacare and apply to passive income (e.g., interest, dividends, capital gains) received by high net worth individuals.

It is unclear whether President Trump will be more successful in tackling tax reform than he was in repealing ACA/Obamacare.  Stay tuned!

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