JCT “bluebook” explains tax legislation enacted in 2015 | KPMG Global
Share with your friends

Legislative update: JCT “bluebook” explains tax legislation enacted in 2015

JCT “bluebook” explains U.S. tax legislation

The Joint Committee on Taxation (JCT) today released the “bluebook” that describes and explains tax legislation enacted in 2015. The bluebook includes a lengthy discussion of the partnership audit reform provisions that were enacted in November 2015 as part of the Bipartisan Budget Act of 2015 (the “Budget Act”) and that were amended by the Consolidated Appropriations Act in December 2015. This discussion includes considerable additional details about the partnership audit reform law.


Related content

The JCT stated that it was releasing a bluebook (General Explanation of Tax Legislation Enacted in 2015, JCS-1-16), because of the substantial amount of tax legislation enacted during the first session of this Congress. The bluebook explanations follow the chronological order of the tax legislation as signed into law.  For each provision, the bluebook includes a description of present law, explanation of the provision, and effective date provisions.   

© 2019 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Request for proposal