Top ten compliance season lessons learned and what to expect going forward.
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The new normal for tax compliance
As the implementation of TCJA continues, coupled with the tax implications of governmental responses to COVID-19 related challenges, including the enactment of the CARES Act, compliance management is being reshaped across industries.
In preparing for the 2019 tax year compliance season, companies can learn some important lessons from the challenges encountered during the 2018 tax year compliance season.
The 2017 Tax Cuts and Jobs Act (TCJA) introduced enormous change in many aspects of the U.S. tax system, with new guidance expected to emerge for several years to come. The complexity of the law, the ongoing development of guidance, the difficulties posed by the technology and data required, and the sheer number of hours and level of resources needed to comply created numerous challenges for many companies during the first compliance season...
More insights
For deeper insights on the past tax compliance year, view the 2018 Compliance Debrief and 2019 Outlook webcast replay. During this event, KPMG professionals reviewed the challenges and opportunities faced in the last filling season from the perspective of TCJA regulations, international tax, partnerships, and state and local tax.
We are also pleased to share the results of the audience polling during that event, where up to 1,000 tax professionals shared their views on the past filling year, as well as their outlook on the path forward.
COVID-19 Resources
