Jorge Castro Comments on Desire for Tax Reform Technical Corrections in International Tax Review
"U.S. Companies Fear TCJA Amendments by Democrats"
International Tax Review
Jorge Castro commented on tax executives' desire for technical corrections to the Tax Cuts and Jobs Act of 2017 (TCJA) ahead of any potential change in political leadership, or new tax legislation, in 2020. Miller & Chevalier's annual Tax Policy Forecast Survey, co-produced with the National Foreign Trade Council, found that many tax executives feel they need further guidance in order to adequately assess the law's complete effect on their businesses. "[Tax heads] have a significant interest in Congress enacting technical corrections to the TCJA," Castro said, adding that in the absence of such legislative action, "pressure will continue to mount on Treasury and the IRS" to provide clarifications on the TCJA provisions.