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Failures To Adjust For Inflation

If Congress pursues tax reform this year, it should consider allowing inflation adjustments for the items discussed below. 

Each year, the IRS publishes inflation adjustments that modify the tax law as originally enacted.  We regularly post about the inflation adjustments in the international tax arena.  However, there are some significant values in the international tax area that are not adjusted for inflation.  In one case, the value has remained unchanged for over eighty years.Read more

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Full Expensing Is A Worthwhile Policy, Even If Not All Businesses Like It

It is a poorly-kept secret in Washington, D.C., that a number of large corporations are not particularly fond of full expensing – a policy that features prominently in the House Republican tax reform plan. These corporations sometimes argue that full expensing would not be as conducive to their investment as a simple corporate rate cut, or that it would not be as helpful to their bottom line.… Read more

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