Which Tax Policy Issues Will Be Big in 2017?
![shutterstock_428580538-[Converted] shutterstock_428580538-[Converted]](https://groco.com/wp-content/uploads/2021/02/shutterstock_428580538-Converted.png)
Taxes, taxes, taxes. One could argue that 2017 will bring more changes to our country’s tax system and policies than we’ve ever seen before. The hope is that all that change will bring about better rewards, including a simplified tax return process and tax cuts for most, if not everyone. So as the New Year begins, what will be some of the biggest tax policy issues that we might face over the next 12 months?
Will there be major tax reform or will there just be a major tax cut? Both Trump and Congress have made big promises, but it remains to be seen if true tax reform will take place, instead of just a large tax cut. Speaking of tax cuts; another one of the biggest questions is whether or not the wealthy will get a big tax break in 2017?
How fast will lawmakers move on their proposed changes? Congress and the president-elect both say they will move quickly on tax reform, but that also remains to be seen. Creating new tax policy usually takes a lot of time, so it will be interesting to see how quickly they can actually move forward with their plans.
How much will the nation’s deficit grow under the proposed tax changes and how much debt will republicans be able to live with? Most economic experts predict that a huge tax cut will ultimately increase the national debt, which could hurt the country’s long-term growth. Will republicans be able to live with that?
A few other tax issues that will be watched closely in 2017 include whether or not republicans will be able to attract support from democratic lawmakers, how congress is going to pay for health insurance subsidies and how will the corporate world respond to Trump’s economic plans? As you can see, there is a lot to look forward to in the next 12 months.
http://www.csmonitor.com/Business/Saving-Money/2016/1229/Ten-tax-policy-issues-to-watch-in-2017
Simple Strategies for Avoiding an IRS Audit
Simple Strategies for Avoiding an IRS Audit sounds easy, but is it? Yes! Are you one of those individuals where the fear of an IRS audit keeps you awake at night? Well, you are not alone. It is one of life’s more complex fears. Never fun going into a room with someone that wants money…
Strategies for Representing Yourself in an IRS Audit
Strategies for Representing Yourself in an IRS Audit Have you been selected by the IRS for an audit? It’s OK. Relax; you can get through this. Although we advise you to never try to go through an audit by yourself, if you really like a challenge and would rather do it by yourself, there are…
U.S. Government Could Lose Billions Due to Fewer Audits
U.S. Government Could Lose Billions Due to Fewer Audits Taxpayers rejoice! There may actually be some good news about tax returns this year. The US Government could lose billions due to fewer audits. That’s because according to reports, due to reduced staff, the IRS may be forced to reduce the number of audits it would…
- « Previous
- 1
- …
- 470
- 471
- 472