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Tax reform looks likely, but companies advised to hold tight 

Tammy Whitehouse | November 15, 2016

Under a Trump presidency and a Republican-controlled Congress, corporate tax reform is widely considered to be inevitable. The big questions surround what will change, how soon, and whether companies should alter any tax planning or compliance activities as a result. 

The biggest priority right out of the gate—given how Trump harped on tax reform as a priority during his campaign—is a likely overhaul of corporate and individual tax rates and provisions, says Marc Gerson, vice chair of the tax department at law firm Miller & Chevalier. Meanwhile, House Republicans have been working on legislative language since mid-2016, and the differences between the key principles of their respective plans are not significant. 

“That creates a window of opportunity to have a comprehensive tax reform discussion in 2017,” says Gerson. He’s predicting significant reduction in both...

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