GMS Flash Alert 2017-157, (published on Thursday, November 2nd) has been updated to include a few clarifications based on subsequent releases.
On Sunday, November 5th, 2017, KPMG’s Washington National Tax practice published a comprehensive booklet which provides preliminary analysis and observations with respect to H.R. 1, the “Tax Cuts and Jobs Act”. The 100+ page booklet is a great starting point for understanding the current proposals with respect to tax reform. The booklet can be found here: House Republican tax reform bill—Initial observations on Chairman Brady's mark (PDF 1.73 MB).
GMS Flash Alert 2017-157, (published on Thursday, November 2nd) has been updated to include a few clarifications based on subsequent releases. The updates include a clarification with respect to home equity indebtedness and additional information regarding the phase-out of the exclusion for gain on sale of a primary residence. We’ve updated the tax rates tables to present them in a format that we believe is more useful to our readers.
Please be sure to register for our KPMG TaxWatch Webcast: Tax Reform: Implications for a Globally Mobile Workforce. This event will be held on Tuesday, December 12, from 2:00 to 3:00 PM (ET). Registration information will be forthcoming shortly.
The above information is not intended to be "written advice concerning one or more Federal tax matters" subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230 as the content of this document is issued for general informational purposes only.
The information contained in this newsletter was submitted by the KPMG International member firm in the United States.
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