KPMG reports on U.S. tax reform

Analysis and observations on the 2017 U.S. tax legislation

The 2017 U.S. tax law made massive changes to the taxation of individuals, businesses in all industries, multinationals, and others. Plus, it has generated hundreds, if not thousands, of pages of guidance from the Treasury and the IRS—with much more yet to come. 

This page includes KPMG reports that make the guidance on, and practical observations about, the new law easy to digest.

Below the reports that generally discuss the new tax law are industry-focused and provision-specific reports from KPMG.

 

John P. Gimigliano

John P. Gimigliano

Principal in Charge, Federal Legislative and Regulatory Services, Washington National Tax, KPMG LLP (U.S.)

+1 202 533 4022

KPMG Report: Tax Policy and the 116th Congress — Observations and Preliminary Analysis

January 14, 2019 |  The 116th Congress began on January 3, 2019—with the Democrats controlling the House and the Republicans controlling the Senate and the White House. The return to "divided government" raises a host of questions as to what to expect in the near future, including questions in the tax policy area. This KPMG report describes the new House, the new Senate, and the tax-writing committees and makes observations about the possible tax agenda.

Download the report here (PDF 895 KB)

 

Tax Reform — Supplement to KPMG Report on New Tax Law

November 15, 2018 | Summarizes and provides insights on guidance issued with respect to the 2017 Tax Law through November 13, 2018, supplementing the KPMG Report on the New Tax Law (February 6, 2018).

Download the report here (PDF 895 KB)

 

Tax Reform: KPMG Report on New Tax Law

February 6, 2018 | Includes analyses and observations regarding the myriad tax law changes in H.R. 1, signed into law by President Trump on December 22, 2017. The legislation includes substantial changes to the taxation of individuals, businesses in all industries, multinational enterprises, and others.

Download the report here (PDF 6.4 MB)

Links for hard copy holders of Tax Reform: KPMG Report on New Tax Law

The above PDF version of KPMG's report includes links to background and resource documents. If you have a hard copy of the report, the text of these linked documents is in blue type. To access these materials, use the links below.

Page 3

TaxNewsFlash–Tax Reform

TaxNewsFlash–United States

Page 10

House GOP "Blueprint"

Unified Framework on Tax Reform

KPMG's description and analysis of the House-passed bill

Page 11

KPMG's description and analysis of the Senate-passed bill

KPMG's Conference Agreement for H.R. 1 – Initial Observations

Page 13

KPMG International, Tax Rates Online

Page 21

H.R. 1 (text of the tax bill)

Conference agreement (explanatory statement)

JCX-67-17 (JCT estimates of the budget effects of the conference agreement on H.R. 1)

JCX-69-17 (Macroeconomic Analysis of the Conference Agreement for H.R. 1)

JCX-68-17 (Distributional Effects of the Conference Agreement for H.R. 1)

Page 171

Tax Reform, Supplement to KPMG's Handbook for Income Taxes


 

Tax Reform Executive Edition: Highlights of the New Tax Law

March 5, 2018 | Following an eight-page overview of the new law, provides "digest summaries and considerations" for the the following areas:

  • Key tax changes to taxation of individuals
  • General considerations for business taxpayers
  • Considerations related to accounting methods, deductible items, and other items
  • Compensation-related considerations
  • Considerations for passthrough entities
  • Considerations for multinational businesses
  • State and local tax considerations.

Download the report here (PDF 1.1 MB)

 

KPMG insights on JCT explanation of new tax law ("Bluebook")

More insights from KPMG: Industry-focused and provision-specific reports

KPMG's 2019 Personal Tax Planning Guide

TaxNewsFlash – Tax Reform

Get the latest on what's happening with tax reform as H.R. 1 implementation continues