The price of administering the new tax law. National Taxpayer Advocate Nina Olson’s 2017 Annual Report to Congress estimates it will cost the IRS at least $495 million in 2018 and 2019 to implement the Tax Cuts and Jobs Act.
Trump’s take on TCJA and family farms. In a speech last night to the American Farm Bureau Federation, the president insisted that family farms were among the biggest winners in the recently-enacted tax law.
Who will replace Orrin Hatch? The Finance Committee Chairman announced that he will retire at the end of the year after more than four decades in the Senate.
A vote today on the compromise TCJA. The House is set to approve the final version of the Tax Cuts and Jobs Act today. The Senate is expected to follow shortly thereafter, perhaps today or tomorrow.
