Share with your friends

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:


Related content

  • 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].

© 2020 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


Want to do business with KPMG?


loading image Request for proposal