• Tax Reform

Tax Reform: The Conversation Continues.

The $1.5 trillion tax reform bill known as the Tax Cuts and Jobs Act of 2017 (TCJA) represented the biggest change to the tax code in a generation. Now, four years later and with Democrats controlling the presidency and both chambers of Congress, tax reform is back on the table.
 
When asked what the most significant determinant of their total tax liability would be in 2021, the result of the presidential election was the second most-cited option selected by tax executives in our Tax Outlook Survey. With the landscape primed for tax code reforms, businesses should be prepared for increased obligations.
 
But what could new tax legislation mean for your business—and for you? Bookmark this page for the latest tax updates, tax reform news and actionable insights to prepare for regulatory changes. 

Featured Insights

Tax Reform
Inflation Reduction Act Becomes Law
August 16, 2022
President Biden signed the Inflation Reduction Act into law at a White House ceremony on August...
Tax Reform
Senate Approves Inflation Reduction Act with Changes to Tax Provisions
August 09, 2022
Twelve days after Sens. Joe Manchin (D-WV) and Charles Schumer (D-NY) announced that they had...
Tax Reform
Path to Passage of Inflation Reduction Act Clears
August 05, 2022
Senator Krysten Sinema (D-Ariz) announced late August 4 that she would support the Inflation...
Tax Reform
Proposed Inflation Reduction Act
August 03, 2022
In what many see as an unexpected development, Senator Joe Manchin (D-W.VA.) on July 27 announced...
Tax Reform
Impacts of the Final Foreign Tax Credit Regulations: Credit Disallowance and Timing R
July 27, 2022
The 2021 final foreign tax credit (FTC) regulations make significant changes to the FTC rules for...
See all Featured Insights

Webinars, Blogs & Social

Webinar
January 12, 2021
Join our team of tax professionals for an overview of how the new provisions may impact your...
Webinar
November 09, 2020
Get insights for businesses regarding important year-end tax planning strategies relevant to...
Blog Post
August 24, 2020
It’s critical for nonprofits to stay abreast of proposed and updated regulations from the...
Webinar
March 30, 2020
The CARES Act is intended to provide relief and recovery to businesses and individuals.
Webinar
February 04, 2020
Join BDO as we explore highlights from our 2019 public company Board of Director Survey. We will...

The evolution of tax.

As global business becomes increasingly complex, managing taxation in multiple jurisdictions has also become more complicated as governments and other tax authorities are intensifying their scrutiny on corporate tax practices.

If tax reform has taught us anything, it’s that change is the new normal. Tax laws are constantly updated as the IRS issues new guidance and regulations. U.S. tax reform altered everything from corporate tax rates to rules around deductions for interest expenses. The Supreme Court’s decision in South Dakota v. Wayfair also sent states scrambling to alter how they tax products and services from remote sellers.

Staying on top of tax reform news is no easy task, which is why BDO has developed this resource center to provide you with the latest news and insights.

Global Tax Reform

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Contacts

Todd Simmens
Todd Simmens National Managing Partner of Tax Risk Management; Tax Controversy and Procedure & Tax Policy and Legislation Technical Practice Leader 732-491-4170
Jeffrey Bilsky
Jeff Bilsky Partner; National Technical Practice Leader, Partnership Taxation 404-979-7193
Connie Cheng Cunningham
Connie Cunningham Accounting Methods Technical Practice Co-Leader 310-557-8544
Randy Schwartzman - BDO New York
Randy Schwartzman Corporate Tax and Mergers and Acquisitions (M&A) National Technical Practice Leader 631-927-1159
Michael Williams - BDO Boston
Michael Williams Income Tax Provision Services (ASC 740) Partner & National Practice Leader; Global Income Tax Accounting Center of Excellence Chair 617-239-4174
Joan Vines
Joan Vines Managing Director 703-770-4444
John Nuckolls
John Nuckolls Managing Director; Private Client Services National Senior Technical Director 415-490-3393
See all contacts

Opportunity Zones Tax Incentives

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Events

September 20, 2022
The OECD’s Pillar II Global Anti-Base Erosion (GloBE) rules are scheduled to take effect in January 2024, with the objective of ensuring large multinational enterprises (MNEs) with global revenue in excess of EUR 750 million pay a 15% minimum tax on profits in each jurisdiction they operate.