Joint Committee Publishes Document Detailing Differences Between Versions of Tax Cuts and Jobs Act

The Joint Committee on Taxation has released a report (JCX-64-17) that details the differences between the versions of the Tax Cuts and Jobs Act that passed the House and Senate. 

The document breaks the bills down by broad topics, and within each broad topic lists those provisions that are identical in both bills, those that exists in both bills but have some differences in the details and then provisions that exist only in one or the other bill.

While this document will likely be relevant for only a short period of time, right now it’s a very useful document to help practitioners understand what items are in both bills in identical form (and thus seem most likely to adopted without change), those that exist with differences (where it’s likely the provision will be in the final bill, though details remain in doubt), and those that exist only in one bill (and are most at risk to not appear in the final bill at all).

That said, there is no guarantee that only these provisions will be in the final bill, or that a provision will end up with terms that are unlike those in either the current House or Senate bills.