October 1 represents a new fiscal year for the federal government and Congress is back in session after the August recess. Can we anticipate more tax legislation changes before the end of the year? The question still remains open but it is possible. Being that it will be hard to get tax issues passed in an election year, the pressure is on to get some of them into end-of-year tax legislation.
There is a large list of pressing tax issues, both the House and Senate have shown interest in the following topics:
Further, the House has recently passed bills to include provisions to remove the "Cadillac tax" on high-cost employer-sponsored health coverage and clarifying tax treatment of legally married same-sex couples.
We all know that there are no guarantees when it comes to passing tax legislation but our hope is that some of the above items get addressed before 2020.
You're Invited! 2020 Automotive Outlook
Wednesday, January 15, 2020
Join us at the MSU Management Education Center in Troy, MI