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Suggestions to Get Up to Speed on (Some) Issues With the New Tax Law

Posted on Dec. 17, 2017

Tax professionals have a stocking full of tax law to read, digest and apply.

Here are some of the articles and posts I read yesterday that I think readers may enjoy as well:

  • Professor Dan Shaviro, in a post in his insightful blog Start Making Sense, foreshadows a follow up paper to the Tax Games article we flagged the other day and critiques the passthrough deduction giveaway;
  • Smart and perceptive post in the Medium by Professor Dan Hemel (one of the Tax Games authors) and Professor Ellen Aprill on the Byrd Rule’s impact on the legislation;
  • A post from Victor Thuronyi over at the Surly Subgroup discussing the need and precedent for a technical corrections bill that this time may do quite a bit more than just fixing some glitches; and
  • Nice summaries in the WSJ [$] and NYT [$]discussing the fate of individual deductions and the general impact of the legislation on individuals.

UPDATE: We will keep adding helpful links to this post and invite you to post sources in the comments that you have found to be helpful

  • Tax Foundation summary of differences between Conference Report and current law, with nice clean visuals highlighting the differences
  • Professor Shaviro’s latest post, predicting a new day for shelter type transactions that will generate pre tax losses and after tax benefits to take advantage of the passthrough rules.
  • NYT [$} discussing the challenges IRS faces in light of the sweeping changes
  • Davis Polk’s helpful hyperlinked guide to the language in the  tax bill
  • KPMG summary and observations of the bill
  • Twitter thread from NYU Law Prof David Kamin (and Tax Games co-author) talking about the tax somersaults people will soon be engaging in to fall within the “sloppily written” provisions that are hard to justify
  • Sam Brunson at Surly Subgroup talks about the differences between the bill’s elimination of the dependency exemption and the heightened CTC, and how families with children over 16 who would have qualified as dependents under current law may be getting a lump of coal next year
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