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Brady releases tax bill with technical corrections, retirement, extenders, other provisions

Brady releases tax bill with technical corrections

U.S. House Ways and Means Committee Chairman Brady (R-TX) this evening released legislation that includes:

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  • Several “time-sensitive” technical corrections to last year’s major tax legislation (Pub. L. No. 115-97), commonly referred to as the “Tax Cuts and Jobs Act,” including a provision relating to qualified improvement property
  • A package of retirement and savings provisions
  • Extensions of expired provisions
  • Provisions simplifying and expanding the deduction for start-up and organizational expenditures and preserving start-up net operating losses and tax credits after ownership changes
  • Provisions to “redesign” the IRS and expand the use of electronic systems
  • Miscellaneous provisions (including some provisions relating to tax-exempt organizations)
  • Temporary tax relief for victims of certain recent natural disasters

 

Read a press release with a statement from Chairman Brady. 

Read the legislative text of the package [PDF 648 KB] (297 pages).

Read a section-by-section description of the package [PDF 269 KB].

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