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KPMG report: Proposed regulations address TCJA gross income acceleration requirement

TCJA gross income acceleration requirement

The 2017 tax law in the United States (Pub. L. No. 115-97, the law that is also referred to as the “Tax Cuts and Jobs Act” (TCJA)) imposed a one-way book-tax conformity requirement that could unexpectedly accelerate gross income for tax purposes.

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Understanding the new rules is critical, enabling taxpayers to foresee and potentially mitigate potentially adverse tax consequences.


Read an October 2019 report [PDF 162 KB] that discusses recently proposed regulations addressing the new requirement, focusing both on positive clarifications proposed by the regulations, as well as on a few less welcome surprises.

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