Trump tax plan

The National Society of Accountants has called the IRS budget appropriation now under consideration “a disservice” to taxpayers and inadequate, even for the IRS needs of a decade ago — let alone at the dawn of massive new tax reform.

Since I was at Davos last year there have been some seismic global changes, not least to taxation.

President Donald Trump said Friday that U.S. economic growth promoted by his policies would help the world, seeking to square his “America First” agenda with globalism.

Paychex identifies the main regs, laws and proposals business owners and their advisors should be paying attention to this year.

Bloomberg Tax released its 2018 Tax & Accounting Outlook, focusing on the Tax Cuts and Jobs Act that Congress passed last month.

The eye-popping $38 billion tax bill that Apple Inc. said it plans to pay on its mammoth pile of accumulated foreign earnings will probably hit federal coffers in an eight-year trickle, not a one-time torrent.

Opponents of the new corporate tax cuts were right. Many companies didn’t pay the full rate before the law passed—so they won’t see splashy reductions in 2018, according to their own estimates.

Thomson Reuters has released several resources to help tax and accounting professionals deal with the Tax Cuts and Jobs Act.

The influential Koch political network is urging President Donald Trump to reject a proposal made by the U.S. Chamber of Commerce to increase the federal gas tax to help modernize American roads, bridges and other infrastructure.

President Trump reportedly plans to name Charles Rettig, a California tax attorney, as the next commissioner of the Internal Revenue Service.