Other provisions in U.S. tax law—tax accounting, compensation and benefits

KPMG report: Other provisions in U.S. tax law

Taxpayers should be aware of important—but sometimes overshadowed—domestic provisions changed by tax reform.

1000

The U.S. tax law—Pub. L. No. 115-97—included a number of “headliner” provisions. However, there are quite a few other provisions of which taxpayers should at least be aware. Among them, changes to the tax treatment of government grants, like-kind exchanges, specified liability losses, small business provisions and employee benefits. Although these provisions do not have the sweeping breadth of some others, they can be equally important for those taxpayers to whom they do apply

 

Read an April 2019 report [PDF 111 KB] prepared by KPMG LLP: What’s News in Tax: In Case You Missed It: “Other” Provisions of the TCJA that discusses some of the “other” provisions in the income tax and accounting and employee compensation and benefits areas.

© 2024 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.


For more detail about the structure of the KPMG global organization please visit https://kpmg.com/governance.

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.

Connect with us

Stay up to date with what matters to you

Gain access to personalized content based on your interests by signing up today