TaxNewsFlash-Legislative Updates - KPMG United States
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Legislative Updates

Legislative Updates

TaxNewsFlash-Legislative Updates — KPMG's reports of legislative updates in the United States


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TaxNewsFlash-Legislative Updates

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Tax policy and the 116th Congress  (January 2019): Read KPMG report: Tax policy and the 116th Congress – observations and preliminary analysis

New U.S. tax law (2017): Read KPMG's analysis and observations, as well as industry or sector-specific reports about provisions in the new tax law

May 2018

There were no articles in May.

2017 Articles

December 2017

Dec 22 - SEC relief to registrants, new U.S. tax law

Dec 22 - KPMG report: Private equity funds—certain measures in new tax law

Dec 22 - KPMG report: New tax law (H.R. 1)—Initial observations

Dec 22 - President signs tax bill into law

Dec 20 - KPMG report: Tax reform for tax-exempt organizations and donors 

Dec 20 - House passes revised conference agreement, completing congressional action on tax reform bill

Dec 20 - Senate passes tax reform conference agreement, with revisions

Dec 19 - House passes “Tax Cuts and Jobs Act” conference agreement

Dec 18 - KPMG report: Insurance provisions in “Tax Cuts and Jobs Act” conference report

Dec 18 - KPMG report: Conference agreement for H.R. 1, Tax Cuts and Jobs Act - Initial observations

Dec 15 - Tax reform conference committee reaches agreement, bill text is released

Dec 13 - Tax reform conference committee convenes

Dec 11 - JCT macroeconomic analysis of House tax reform bill

Dec 11 - JCT comparison of revenue estimates of House and Senate-passed tax reform bills

Dec 7 - Conferees for tax reform conference

Dec 7 - JCT comparison of House- and Senate-passed tax reform bills

Dec 6 - KPMG report: Tax reform for tax-exempt organizations and donors

Dec 4 - Conference on tax reform bills; House conferees named; Senate rules preclude certain items

Dec 4 - KPMG report: Insurance provisions in tax bill passed by U.S. Senate

Dec 4 - KPMG report: Preliminary analysis and observations regarding Senate-passed bill

Dec 2 - Senate passes tax reform bill: Modifications made on Senate floor

November 2017

Nov 30 - Explanation, macroeconomic estimate of reconciliation (tax reform) bill in Senate

Nov 29 - KPMG report: Tax reform proposals, implications for banking and capital markets

Nov 28 - KPMG report: Income tax accounting considerations of U.S. tax reform 

Nov 27 - KPMG report: Oil, gas and mining provisions—House, Senate Finance Committee versions of tax reform bills 

Nov 22 - KPMG report: Provisions affecting private equity funds in tax reform bills—House bill and Senate Finance Committee bill

Nov 21 - Insurance provisions in tax reform approved by Senate Finance Committee (as of November 20)

Nov 20 - Senate Finance Committee releases tax reform bill text

Nov 18 - KPMG report: Senate tax reform bill—Initial observations on Finance Committee bill

Nov 16 - Senate Finance Committee approves tax reform bill, including Chairman’s “manager’s amendment” 

Nov 16 - KPMG’s analysis on House tax reform bill; House passes H.R. 1

Nov 15 - Senate Finance Chairman’s modified mark, correction made to tax bracket calculations 

Nov 15 - Initial impressions: Senate Finance Chairman’s modified mark

Nov 15 - Senate Finance Chairman’s modified mark is released

Nov 14 - Insurance provisions in tax bill approved by Ways and Means Committee

Nov 14 - Power and utilities provisions, Ways and Means tax reform bill

Nov 14 - Tax reform proposals that may affect tax-exempt organizations and donors

Nov 14 - JCT report, distributional effects of Ways and Means tax bill

Nov 13 - KPMG report: Senate tax reform bill—Initial observations on Chairman Hatch's mark

Nov 12 - Senate Finance Committee staff's description of tax reform bill

Nov 11 - KPMG report: House Republican tax reform bill—Initial observations on Ways and Means Committee bill

Nov 11 - JCT revenue table on Ways and Means tax reform bill

Nov 10 - Senate Finance tax reform markup set for Monday afternoon, November 13

Nov 10 - Text of tax reform bill, as approved by Ways and Means

Nov 9 - Initial impressions: Ways and Means Committee approves tax reform bill

Nov 9 - U.S. Senate Finance Chairman's mark for tax reform released

Nov 9 - Ways and Means amendments for markup of tax reform bill (H.R. 1)

Nov 6 - Ways and Means begins consideration of H.R. 1; adopts amendment

Nov 5 - KPMG report: House Republican tax reform bill—initial observations on Chairman Brady's mark

Nov 3 - JCT description of tax reform bill (H.R. 1)

Nov 3 - Ways and Means “Chairman’s mark” released in advance of markup, November 6

Nov 2 - Initial impressions: Tax reform bill released in House, November 2

Nov 2 - Insurance provisions in tax reform bill (Ways and Means release as of November 2)

Nov 2 -  U.S. House Ways and Means Committee releases tax reform bill

Nov 1 - Ways and Means to release tax reform bill text, November 2

Initial impressions: Ways and Means Committee approves tax reform bill
Initial impressions: Ways and Means Committee approves tax reform bill

July 2017

Jul 28 - Senate healthcare bill fails; tax reform implications?

Jul 27 - Administration and congressional Republican leaders release statement on tax reform

Jul 25 - U.S. Senate votes to proceed on healthcare reform debate

Jul 20 - Senate Finance Chairman Hatch urges shift to territorial tax system

Jul 17 - JCT report: Tax reform and individuals and families, Ways and Means subcommittee hearing

Jul 14 - JCT report: Senate Finance Committee hearing on tax reform prospects, challenges

Jul 14 - JCT reports on tax provisions in administration’s FY 2018 budget

Jul 13 - Updated draft of healthcare legislation released by Senate

Jul 11 - JCT report for small business tax reform hearing 


October 2015

Oct 30 - Senate passes budget agreement; bill headed to White House

Oct 29 - Who will be next Ways and Means chairman?

Oct 28 - House passes budget agreement, containing tax provisions

Oct 28 - Macroeconomic estimate of permanent “bonus depreciation” bill

Oct 27 - “Budget deal” includes tax provisions

Oct 23 - House passes reconciliation bill, includes heath care repeal

Oct 5 - BEPS final recommendations: Reaction from Ways and Means chair

Oct 2 - Internet tax moratorium extended to December 11

Oct 2 - Will international tax reform still be linked to highway bill?

Oct 1 - Airport, airways trust fund taxes are extended


September 2015

Sep 29 - Congress passes extension of airport, airways trust fund taxes

Sep 29 - JCT description of revenue provisions in FY 2016 budget

Sep 29 - Ways and Means approves reconciliation measure; healthcare repeal

Sep 28 - Ways and Means to mark up reconciliation bill; healthcare repeal

Sep 17 - Ways and Means approves making certain “tax extenders” permanent and modifications to the Affordable Care Act

Sep 15 - Tax writing committees schedule markups

Sep 11 - Redefining tax reform  

Sep 10 - What is an "innovation box"? Why should businesses care?

Sep 9 - Is the highway bill a possible route to limited scope business tax reform later this year?

Sep 8 Congress returns to unfinished business


August 2015

Aug 27 - Tax committee chairs question country-by-country reporting 

Aug 7 - Senate Finance Committee reports bill to extend expired tax preferences

Aug 5 - Macroeconomic estimate of Senate Finance “extenders” bill


July 2015

Jul 31 - President signs highway bill

Jul 30 - Senate passes highway bill

Jul 29 - House passes revised highway bill, revenue (tax) provisions

Jul 29 - Draft proposal for innovation box

Jul 29 - Tax provisions affecting foreign acquisitions of U.S. businesses, Senate PSI hearing

Jul 24 - Tax proposals in Senate version of highway bill

Jul 21 - Senate Finance approves two-year extension of expired provisions, with modifications

Jul 17 - Senate Finance to mark up “tax extenders”

Jul 15 - House passes highway bill containing revenue provisions

Jul 14 - House highway bill includes revenue provisions

Jul 8 - Recommendations for tax reform in reports of Finance Committee working groups

Jul 2 - Ways and Means members propose to reform partnership audit rules


June 2015

Jun 26 - Trade bill heading to White House includes tax provisions

Jun 22 - JCT report on taxation of repatriated foreign earnings

Jun 18 - House passes prospective medical device excise tax repeal

Jun 17 - State and local tax treatment of physical presence, multistate employees, digital goods

Jun 11 - House passes trade bill, includes tax provisions

Jun 10 - House approves permanent internet tax ban

Jun 9 - House scheduled to vote on permanent internet tax ban

Jun 2 - Ways and Means approves prospective medical device excise tax repeal

Jun 1 - Ways and Means to markup medical device excise tax repeal


May 2015

May 13 - Finance chair questions IRS’s use of law firm in taxpayer audit

May 5 - Finance Committee tax reform working groups to make presentations


April 2015

Apr 30 - Finance passes 529 college savings plan bill

Apr 29 - FY 2016 congressional budget resolution

Apr 16 - House passes permanent sales tax deduction, estate tax repeal


March 2015

Mar 30 - JCT summary of U.S. tax system (2015)

Mar 27 - Budget resolutions approved by House, Senate

Mar 24 - Congress begins consideration of budget proposals

Mar 24 - Ways and Means to mark up eight bills


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