On October 5, the House of Representatives took the first step in overhauling the United States tax code when it passed a budget resolution. This budget resolution would allow a future tax bill to pass in the House and the Senate without the support of any Democrats. In a 219…

“Repeal of the State and Local Tax Deduction?” As mentioned in last week’s edition of “Tax Reform Now,” President Trump’s “Unified Framework for Fixing Our Broken Tax Code” would eliminate most itemized deductions. Although the home mortgage interest and charitable contribution deductions would be retained, this framework would eliminate the…

Unified Framework for Fixing Our Broken Tax Code On Wednesday September 29, 2017, President Trump unveiled a framework for his tax policy reform, entitled the “Unified Framework for Fixing Our Broken Tax Code”. If the tax overhaul takes place as planned, this will be the country’s largest tax reform since 1986. A…