Tax Reform:  House and Senate Bill Comparison

The US Senate passed its version of tax reform on December 2, 2017.  The Senate bill, as passed, differs significantly from the version that was passed by the House Representatives on November 16, 2017.   The Senate and the House will need to hold a conference to reconcile the differences between the two bills and come up with one single bill before the President Trump can sign for enactment.  We are anticipating that the reconciliation will be completed in the next few weeks.

Here are some notable differences between the two bills applicable for businesses: