Marc Gerson Comments on Need for TCJA Guidance in Accounting Today
"Tax Execs Waiting on TCJA Guidance"
Marc Gerson, Firm Chair and former majority tax counsel to the House Committee on Ways and Means, commented on tax executives' need for additional regulatory guidance to understand how to best structure their businesses following the passage of the Tax Cuts and Jobs Act of 2017 (TCJA). "The Tax Cuts and Jobs Act was a very complex piece of legislation," Gerson said. "Folks are appreciative of the effort the Treasury and the IRS have put to get guidance out, especially in the international area. But a lot of the guidance is still proposed, so there's a period of uncertainty. As more regs get finalized, there still might be unresolved issues, and we'll see more focus on legislation to address some of these."