Marc Gerson Comments on Key Issues Concerning Tax Executives in Accounting Today

"Why Tax Executives Are Losing Sleep"
Accounting Today
04.07.16Marc Gerson commented in Accounting Today on some of the key issues of concern to tax executives based on findings from the 10th Annual Miller & Chevalier and National Foreign Trade Council (NFTC) Tax Policy Forecast Survey. Concerns voiced by executives include congressional focus on piecemeal legislation as opposed to momentous tax reform, the need to pivot to a territorial system of taxation on U.S. corporations and the instability of tax rules making tax planning difficult. "I think it's very much a confirmation of the kind of current environment we have in an election year," Gerson said, adding that there is "a lot of interest in tax reform, with the two chairmen of the tax-writing committees holding hearings and working on specific proposals. It's keeping tax more in the conversation this year than in past elections." In addition, there is "the realization that because this is an election year it will be difficult if not impossible for any tax legislation, certainly on tax reform, to move this year," he said. "The hearings and proposals that Brady and Hatch are working on might form the foundation for future tax reform. If you consider the increased discussion of reform by the presidential candidates, there is the notion that 2017 will be a window of opportunity for significant tax reform legislation, depending on who the president is."
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