The prospect of a divided government beginning in January with the 118th Congress helps clarify how federal and state tax policy might take shape for the remainder of 2022 and through the next two years. Surprisingly tight margins will likely usher in a period of political gridlock and less-than-ambitious tax legislative accomplishments. Important decisions will need to be made by lawmakers, both in the coming weeks and over the next several years. Join our tax policy team as we break down the dynamics and consider the legislative landscape awaiting businesses in the new year.
Our discussion focused on:
Likelihood of a year-end tax bill that could include TCJA-related cliffs such as the treatment of R&E costs under section 174, the interest deduction limitation under section 163(j) and 100% business expensing
Possible strategic priorities of a newly formulated Congress in 2023, and potential pressure points ahead
Implications of the midterms on the IRS’ new funding and emerging focus on audit and enforcement
How the new state legislative and gubernatorial landscape will affect state tax policy and legislation
Dave Kautter, | Partner | RSM US
Dave Kautter, RSM’s federal specialty tax leader, oversees?the firm’s?federal?specialty tax services?in collaboration with regional and national practice leaders?and?fellow members of?the firm’s tax leadership team.
After attending this webcast, participants will be able to:
Explain the midterm election results
State how the top federal and state tax legislation efforts will be affected
Describe the impact on middle market businesses
Session may qualify for verifiable CPE for American CPAs. RSM US LLP is pleased to offer 1.0 CPE credits for attending each webcast. To qualify, you must log in to the webcast and provide your first name, last name and email address. You must remain logged in for a minimum of 50 minutes and answer 75 percent of the polling questions to receive credit. Group CPE is not available. For more information regarding administrative policies, such as refunds, cancellations and complaints, please contact us.
RSM US LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have the final authority on the acceptance of individual course for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
Advance preparation: None | Program level: Basic | Prerequisites: None | Delivery method: Group internet-based | Field of study: Taxes | CPE: 1.0 credits per webcast
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Chief financial officers, finance and tax professionals
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