Recent Articles
April 2022
March 2022
Mar 30 - KPMG report: International tax proposals in Biden Administration’s budget for FY 2023
Mar 28 - KPMG report: Initial impressions of tax proposals in Biden Administration’s budget for FY 2023
Mar 28 - FY 2023 budget: “Green Book”—Treasury’s explanation of tax proposals
Mar 28 - FY 2023 budget: Initial document is released
Mar 11 - JCT report on federal tax treatment of charitable contributions ahead of Finance Committee hearing
Mar 8 - JCT releases “Bluebook” on tax legislation in 116th Congress
February 2022
January 2022
2021 Articles
December 2021
November 2021
Nov 19 - House passes “Build Back Better Act” with tax measures (updated KPMG report)
Nov 15 - President signs bipartisan infrastructure bill, tax provisions are enacted
Nov 11 - KPMG report: “Build Back Better Act” tax proposals in pending House bill
Nov 5 - House passes bipartisan infrastructure bill with tax provisions, completing congressional action
Nov 4 - JCT revenue estimate of tax provisions (as modified) in “Build Back Better Act”
Nov 3 - House Democrats propose more modifications to “Build Back Better Act”
October 2021
Oct 28 - House Rules Committee releases updated version of the “Build Back Better Act” (initial impressions)
Oct 28 - House Rules Committee releases new legislative text for “Build Back Better Act”
Oct 27 - Senate Finance Chairman Wyden unveils “billionaires income tax”
Oct 26 - Senate Finance Chairman Wyden introduces “corporate profits minimum tax”
September 2021
Sep 28 - House Budget Committee’s report on “Build Back Better Act” (the reconciliation bill)
Sep 16 - KPMG report: Tax proposals for budget reconciliation legislation approved by Ways and Means
Sep 15 - Ways and Means approves tax title to Build Back Better Act
Sep 13 - JCT estimated budgetary effects, technical explanation of revenue-raising Ways and Means proposals
Sep 13 - Ways and Means releases additional proposals for markup, including tax increases
Sep 11 - JCT descriptions, estimated budgetary effects of Ways and Means proposals
Sep 11 - Ways and Means releases additional proposals for markup, including tax credits and incentives
Sep 10 - Senate Finance Chairman Wyden proposes excise tax on stock buybacks
August 2021
Aug 24 - U.S. House passes budget resolution; implications for major tax legislation
Aug 18 - Senate Finance Chairman Wyden introduces housing bill, includes tax credits
Aug 16 - KPMG report: Tax provisions for banking industry in Biden Administration’s FY 2022 budget proposals
Aug 12 - Senate infrastructure bill would expand cryptocurrency tax reporting
Aug 11 - U.S. Senate passes budget resolution; implications for major tax legislation
Aug 10 - Senate approves infrastructure bill, including tax provisions
Aug 5 - Senate Finance Chairman Wyden introduces carried interest bill
Aug 5 - Senate Finance Chairman Wyden’s bill on tax treatment of derivatives
Aug 2 - Senate releases legislative text of bipartisan infrastructure bill
July 2021
Jul 20 - Proposal for border carbon adjustment tariff
Jul 20 - Senate Finance Chairman Wyden's proposal to modify section 199A qualified business income deduction
Jul 2 - Ways and Means, Finance chairs express support for global minimum tax
Jul 1 - KPMG report: Healthcare-related tax provisions in Biden Administration’s FY 2022 budget proposals
June 2021
Jun 28 - KPMG report: Inbound tax provisions in Biden Administration’s FY 2022 budget proposals
Jun 18 - KPMG report: Insurance tax provisions in the Biden Administration’s FY 2022 budget proposals
Jun 16 - House passes bill requiring country-by-country reporting of pre-tax profits, taxes paid
Jun 4 - KPMG report: Biden Administration’s tax plan and implications for real estate industry
May 2021
May 31 - KPMG report: Analysis and observations of tax proposals in Biden Administration’s FY 2022 budget
May 28 - KPMG report: Initial impressions of tax proposals in Biden Administration’s budget for FY 2022
May 28 - Green Book—Treasury’s explanation of tax proposals in FY 2022 budget
May 28 - Biden Administration’s budget proposals for FY 2022
May 27 - Senate Finance Committee marks up energy tax legislation
May 12 - Proposal to require country-by-country reporting of pre-tax profits, taxes paid
May 5 - Ways and Means approves retirement security bill
May 3 - KPMG report: Outlook for what’s ahead for energy tax incentives (updated)
April 2021
Apr 28 - President Biden announces American Families Plan, individual tax proposals
Apr 27 - House Ways and Means Chairman Neal introduces economic plan, includes tax provisions
Apr 21 - Tax incentives included in Senate Finance Chair’s energy bill
Apr 15 - JCT overview of federal tax system (2021)
Apr 14 - Comparing Biden and Wyden international tax proposals (KPMG chart)
Apr 14 - Updated charts reflecting provisions in President Biden’s business tax proposals
Apr 7 - U.S. Treasury releases report “Made in America Tax Plan”
March 2021
Mar 31 - President Biden announces plans with major business tax proposals
Mar 30 - President Biden signs legislation extending PPP (COVID-19)
Mar 25 - Congress passes bill extending PPP through June 30, 2021
Mar 17 - Senate committee hearings to include discussions of U.S. tax system
Mar 11 - President Biden signs COVID relief legislation
Mar 10 - Congress passes COVID relief legislation
Mar 10 - Compensation and benefits-related provisions in COVID relief bill
February 2021
Feb 27 - House passes COVID-19 relief bill, including tax provisions
Feb 26 - KPMG report: Outlook for what’s ahead for energy tax incentives (GREEN Act)
Feb 12 - Ways and Means advances reconciliation legislation
Feb 8 - Ways and Means schedules mark-up of COVID-19 relief proposals
Feb 2 - KPMG report: Biden Administration and the 117th Congress; possible tax legislation
Feb 1 - Congressional Democrats release FY 2021 budget resolution
January 2021
Jan 27 - JCT list of expiring federal tax provisions, 2021-2029
Jan 14 - President-elect Biden announces “American Rescue Plan”—includes tax components
Jan 6 - KPMG report: Tax policy implications of possible Democratic Senate
Jan 4 - New Congress begins
Jan 4 - Beneficial ownership reporting requirement in defense authorization veto override
2020 Articles
December 2020
Dec 30 - Favorable tax provisions for renewable energy industry enacted
Dec 29 - Permanent reduction of excise tax rates for beer and spirits, tax credits for wine
Dec 28 - President signs year-end funding, COVID-19 relief legislation; tax provisions are enacted
Dec 22 - Compensation and benefit-related tax provisions in year-end funding and COVID relief legislation
Dec 22 - Year-end funding and COVID relief legislation; charitable giving provisions extended, expanded
Dec 21 - Year-end funding and COVID relief legislation; includes important tax measures
Dec 21 - Proposal to clarify the deductibility of PPP expenses
Dec 11 - Senate passes defense bill with anti-money laundering disclosure provisions
November 2020
October 2020
There were no articles in October 2020.
September 2020
August 2020
July 2020
Jul 30 - House passes child care support bill, includes tax provisions (COVID-19)
Jul 29 - Compensation and benefits issues in Senate Republican COVID-19 bills released this week
Jul 27 - Senate Republicans release COVID-19 response bills, with tax provisions
Jul 10 - Congress passes unemployment relief for tax-exempt entities (COVID-19)
Jul 6 - Extension of PPP loan application deadline enacted (COVID-19)
Jul 2 - Congress passes PPP extension bill; House passes infrastructure bill (COVID-19)
June 2020
May 2020
April 2020
Apr 24 - President signs PPP funding legislation
Apr 23 - House passes COVID-19 legislation, with additional Paycheck Protection Program funds
Apr 22 - JCT description of tax provisions in CARES Act
Apr 21 - Senate passes COVID-19 legislation, with additional Paycheck Protection Program funds
Apr 9 - Legislation to increase CARES Act funding fails in Senate
Apr 7 - Senate to propose additional funding for Paycheck Protection Program this week (COVID-19)
Read archived articles [PDF 288 KB] of TaxNewsFlash-Legislative Updates
Biden Tax Agenda
KPMG reports
- Asset management [PDF 1.2 MB] (67 pages)
- Banking [PDF 635 KB] (22 pages)
- Energy and natural resources [PDF 612 KB] (27 pages)
- Healthcare [PDF 625 KB] (19 pages)
- Inbound [PDF 558 KB] (19 pages)
- Individuals [PDF 10.5 MB] (57 pages)
- Insurance [PDF 553 KB] (15 pages)
- Real estate [PDF 272 KB] (21 pages)
February 4, 2021 - KPMG report: Biden Administration and the 117th Congress; possible tax legislation [PDF 2.4 MB] (29 pages)
Special Reports on Proposed Legislation, Enacted Tax Laws
- March 2020: KPMG report: Tax provisions in the CARES Act (COVID-19 “phase 3” response): Preliminary analysis and observations
- March 2020: KPMG report: “Phase 2” coronavirus bill, includes tax relief for paid leave (COVID-19)
- January 2019: KPMG report: Tax policy and the 116th Congress – observations and preliminary analysis
- April 2019: KPMG report: Twenty questions about possible technical corrections to 2017 Tax Act [PDF 317 KB]
- January - March 2018: Tax reform—KPMG report on new tax law [PDF 6.4 MB] (in addition, the items below provide "mini-booklets" with descriptions of tax provisions in the new law concerning certain industries or sectors)
- Tax reform: Provisions relevant to compensation, benefits, & qualified plans [PDF 637 KB]
- New tax law: International provisions and observations [PDF 473 KB]
- Tax reform and the potential impacts to the banking industry [PDF 1.4 MB]
- Tax reform: Issues for exempt organizations (Pub. L. 115-97) [PDF 316 KB]
- New tax law (Pub. L. 115-97)—Energy & natural resources [PDF 1.8 MB]
- Issues for partnerships, S corporations, and their owners [PDF 589 KB]
- Power and utilities industry measures in new tax law [PDF 944 KB]
- Tax reform, accounting for income taxes [PDF 487 KB]
- Accounting for U.S. tax reform under IFRS [PDF 415 KB]
- Tax reform: Provisions relevant to compensation, benefits, & qualified plans [PDF 637 KB]
- December 2017: Conference agreement for H.R. 1, Tax Cuts and Jobs Act - Initial observations [PDF 1.1 MB]
- December 2017: Senate tax reform bill—Initial observations on Senate-passed bill [PDF 1.7 MB]
- November 2017: Senate tax reform bill—Initial observations on Finance Committee bill [PDF 1.3 MB]
- November 2017: House Republican tax reform bill—Initial observations on House-passed bill [PDF 1.8 MB]
- November 2017: Senate tax reform bill—Initial observations on Chairman Hatch's mark [PDF 1.1 MB]
- November 2017: House Republican tax reform bill—Initial observations on Ways and Means Committee bill [PDF 1.8 MB]
- November 2017: House Republican tax reform bill—initial observations on Chairman Brady's mark [PDF 1.7 MB]
- September 2017: Unified framework for comprehensive tax reform—initial observations [PDF 1.0 MB]
- June 2016: House Republican tax reform “blueprint”—initial observations
- March 2016: Preliminary observations about JCT “Bluebook”description of partnership audit reforms
- February 2016: Tax provisions in the administration’s FY 2017 budget [PDF 1.1 MB] (in addition, the items below provide "mini-booklets" with descriptions of tax provisions in the administration's FY 2017 budget concerning certain industries or sectors)
- Closely held businesses and their owners [PDF 549 KB]
- Compensation, benefits, & qualified plans [1.05 MB]
- Exempt organizations [PDF 1.01 MB]
- Insurance [PDF 1.7 MB]
- Passthroughs [PDF 1.35 MB] - January 2016: Protecting Americans from Tax Hikes Act of 2015, year-end tax legislation [PDF 468 KB]
- November 2015: Partnership tax changes in Budget Act [PDF 184 KB]
- September 2015 (KPMG reports): International tax, patent boxes, and tax reform [PDF 3.62 MB]
- 2014: Tax reform proposals of W&M chairman [PDF 2.92 MB] (2014 "Camp report")
- 2015: Comparison: Camp tax reform bill, Obama Administration FY 2016 budget proposal [PDF 693 KB]
- 2015: Tax provisions in the administration FY 2016 budget (in addition, provides "mini-booklets" with descriptions of tax provisions in the administration's FY 2016 budget)
TaxNewsFlash-Tax Reform (TCJA)
Read TaxNewsFlash-Tax Reform (TCJA)
Tax measures enacted (December 2019): KPMG report: Tax provisions enacted in December 2019 appropriations legislation
U.S. tax law (2017): Read KPMG's analysis and observations, as well as industry or sector-specific reports about provisions in the 2017 tax law
KPMG reports on U.S. responses to COVID-19
KPMG’s reports including analysis and observations on responses to the coronavirus (COVID-19) pandemic in the United States
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