Tax Reform: House and Senate Have Agreement in Principle on Tax Reform

U.S. House and Senate Republicans have reached a deal on tax reform plans, paving the way for passage of tax reform by Christmas. The tax reform plan is certain to make profound changes to the tax code that will affect all U.S. taxpayers. This article describes some of the key provisions of the House and Senate bills that are likely to be included in some form in the final legislation, and how they will affect individuals and businesses in 2017 and beyond.