KPMG (No. 16 on the DiversityInc Top 50 Companies list) has issued a detailed report, "Understanding the Tax Reform Process: FAQ," with a high-level overview on the U.S. tax reform outlook and steps for businesses to consider for a possible tax overhaul.
KPMG's Vice Chairman of Tax Jeffrey C. LeSage said: "There could be lots of twists and turns ahead in the post-election political landscape, but for the first time in 30 years the prospects for substantive tax reform seem better than ever. Business leaders need to pay close attention and make their voices heard now."
"While nothing is ever certain when it comes to tax reform, it seems we're likely to see more interest, debate, and action on this issue in 2017 than we've seen since the Tax Reform Act of 1986," added John Gimigliano, principal-in-charge of the Federal Legislative & Regulatory Services group in the Washington National Tax practice of KPMG.
The report — in question/answer format — can be accessed at the following link: https://home.kpmg.com/content/dam/kpmg/xx/pdf/2016/12/tnf-faq-on-tax-reform-final.pdf.
For more on KPMG's perspective on tax reform, visit "Outlook for U.S. Tax Reform" on the KPMG Institutes website, where companies can find numerous resources to help them stay abreast of tax reform developments.