Current Federal Tax Developments for the week of October 2, 2017 - Framing Tax Reform. Current Federal Tax Developments is brought to you by the state CPA societies and the Loscalzo Institute, a Kaplan Company.

This week we look at the framework for comprehensive tax reform that was issued by the “Big 6” and is scheduled to be taken up by Congress. We discuss the proposal’s framework for changes in:

Standard deduction and personal exemptions
Individual tax brackets
Alternative minimum tax repeal
Itemized deductions
Work, education and retirement issues
Estate and GST Tax repeal
Business tax rates
Expensing of capital improvements
Interest expense
Other business deductions and credits
Offshore corporate earnings
Where does this go from here?

Below is the article describing in more detail the framework.

2017-10-02 Current Federal Tax Developments