House Ways and Means chairman tax reform discussion draft — proposals that have impact on colleges and universities
The building blocks for what could eventually form the base of US tax reform include dramatic proposals that will affect universities and colleges. The 979-page ‘Tax Reform Act of 2014’ discussion draft introduced by House Ways and Means chairman Dave Camp (R-MI) in March 2014 is a comprehensive reform package that would reduce US corporate and individual rates, reform US international tax rules and significantly alter the existing landscape of industry tax preferences.
As noted in an earlier alert, it is important to pay attention to these proposals as they will become possible offsets in any future tax bill, including a tax extenders bill.
Universities and colleges should be aware of the following proposals included in chairman Camp’s draft and currently being discussed…
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