The name that Republican tax writers gave to a new, multibillion-dollar business levy implies that it targets foreign earnings from “intangible” intellectual property—hitting tech firms and drugmakers like Apple Inc. and Pfizer Inc.
As 2017 draws to a close, the uncertain tax and legislative environment means that year-end tax planning is more important than usual. To help individuals and businesses prepare for filing season, Grant Thornton LLP has some tips.
Senate Republicans tucked some multibillion-dollar tax increases for corporations into the 515-page tax bill they released this week—spring-loaded hikes that would begin after 2024 if the economy doesn’t grow as fast as GOP lawmakers have promised.
Taking a cue from the failed Repeal and Replace healthcare process, the Trump administration Wednesday released a broad outline of its tax reform plan, with many details to be spelled out in legislative form during negotiations with Congress.
