Recent Articles
May 2023
April 2023
March 2023
Mar 14 - KPMG report: Analysis and observations of tax proposals in Biden Administration’s FY 2024 budget
Mar 9 - KPMG report: Initial impressions of tax proposals in Biden Administration’s FY 2024 budget
Mar 9 - FY 2024 budget: “Green Book”—Treasury’s explanation of tax proposals
Mar 9 - Administration releases FY 2024 budget recommendations
Mar 3 - JCT report on tax provisions related to residential housing, ahead of Senate Finance hearing
February 2023
January 2023
2022 Articles
December 2022
November 2022
October 2022
There were no articles in October 2022.
September 2022
August 2022
Aug 16 - President signs budget reconciliation legislation; KPMG’s report on tax law changes
Aug 12 - House passes reconciliation bill with tax provisions
Aug 9 - JCT revenue estimates and distributional analysis of budget reconciliation bill
Aug 9 - KPMG report: Overview of investment tax credit for investments in semiconductor manufacturing
Aug 9 - Legislative text of reconciliation bill with tax provisions
Aug 7 - Senate passes reconciliation bill with tax provisions
Aug 2 - KPMG report: Initial impressions of “carried interest” provision in draft Senate reconciliation bill
July 2022
Jul 29 - KPMG report: Initial impressions of energy tax provisions in draft Senate reconciliation bill
Jul 28 - House passes CHIPS bill with advanced investment tax credit for semiconductor manufacturing
Jul 27 - Updated: Reported agreement on Senate reconciliation bill, legislative text and summary of bill
Jul 27 - Senate passes CHIPS bill, includes advanced investment tax credit for semiconductor manufacturing
Jul 25 - JCT revenue estimates of tax proposals in Biden Administration’s FY 2023 budget
Jul 18 - JCT report on tax incentives for residential real estate, ahead of Senate Finance hearing
Jul 11 - JCT report on tax incentives for residential real estate, ahead of Ways and Means hearing
June 2022
May 2022
There were no articles in May 2022.
April 2022
March 2022
Mar 30 - KPMG report: International tax proposals in Biden Administration’s budget for FY 2023
Mar 28 - KPMG report: Initial impressions of tax proposals in Biden Administration’s budget for FY 2023
Mar 28 - FY 2023 budget: “Green Book”—Treasury’s explanation of tax proposals
Mar 28 - FY 2023 budget: Initial document is released
Mar 11 - JCT report on federal tax treatment of charitable contributions ahead of Finance Committee hearing
Mar 8 - JCT releases “Bluebook” on tax legislation in 116th Congress
February 2022
January 2022
2021 Articles
December 2021
November 2021
Nov 19 - House passes “Build Back Better Act” with tax measures (updated KPMG report)
Nov 15 - President signs bipartisan infrastructure bill, tax provisions are enacted
Nov 11 - KPMG report: “Build Back Better Act” tax proposals in pending House bill
Nov 5 - House passes bipartisan infrastructure bill with tax provisions, completing congressional action
Nov 4 - JCT revenue estimate of tax provisions (as modified) in “Build Back Better Act”
Nov 3 - House Democrats propose more modifications to “Build Back Better Act”
October 2021
Oct 28 - House Rules Committee releases updated version of the “Build Back Better Act” (initial impressions)
Oct 28 - House Rules Committee releases new legislative text for “Build Back Better Act”
Oct 27 - Senate Finance Chairman Wyden unveils “billionaires income tax”
Oct 26 - Senate Finance Chairman Wyden introduces “corporate profits minimum tax”
September 2021
Sep 28 - House Budget Committee’s report on “Build Back Better Act” (the reconciliation bill)
Sep 16 - KPMG report: Tax proposals for budget reconciliation legislation approved by Ways and Means
Sep 15 - Ways and Means approves tax title to Build Back Better Act
Sep 13 - JCT estimated budgetary effects, technical explanation of revenue-raising Ways and Means proposals
Sep 13 - Ways and Means releases additional proposals for markup, including tax increases
Sep 11 - JCT descriptions, estimated budgetary effects of Ways and Means proposals
Sep 11 - Ways and Means releases additional proposals for markup, including tax credits and incentives
Sep 10 - Senate Finance Chairman Wyden proposes excise tax on stock buybacks
August 2021
Aug 24 - U.S. House passes budget resolution; implications for major tax legislation
Aug 18 - Senate Finance Chairman Wyden introduces housing bill, includes tax credits
Aug 16 - KPMG report: Tax provisions for banking industry in Biden Administration’s FY 2022 budget proposals
Aug 12 - Senate infrastructure bill would expand cryptocurrency tax reporting
Aug 11 - U.S. Senate passes budget resolution; implications for major tax legislation
Aug 10 - Senate approves infrastructure bill, including tax provisions
Aug 5 - Senate Finance Chairman Wyden introduces carried interest bill
Aug 5 - Senate Finance Chairman Wyden’s bill on tax treatment of derivatives
Aug 2 - Senate releases legislative text of bipartisan infrastructure bill
July 2021
Jul 20 - Proposal for border carbon adjustment tariff
Jul 20 - Senate Finance Chairman Wyden's proposal to modify section 199A qualified business income deduction
Jul 2 - Ways and Means, Finance chairs express support for global minimum tax
Jul 1 - KPMG report: Healthcare-related tax provisions in Biden Administration’s FY 2022 budget proposals
June 2021
Jun 28 - KPMG report: Inbound tax provisions in Biden Administration’s FY 2022 budget proposals
Jun 18 - KPMG report: Insurance tax provisions in the Biden Administration’s FY 2022 budget proposals
Jun 16 - House passes bill requiring country-by-country reporting of pre-tax profits, taxes paid
Jun 4 - KPMG report: Biden Administration’s tax plan and implications for real estate industry
Read archived articles [PDF 340 KB] of TaxNewsFlash-Legislative Updates
Biden Tax Agenda
KPMG reports
November 11., 2022 - KPMG report: “Build Back Better Act” tax proposals in House bill [PDF 2.5 MB] (210 pages)
- Asset management [PDF 1.2 MB] (67 pages)
- Banking [PDF 635 KB] (22 pages)
- Energy and natural resources [PDF 612 KB] (27 pages)
- Healthcare [PDF 625 KB] (19 pages)
- Inbound [PDF 558 KB] (19 pages)
- Individuals [PDF 10.5 MB] (57 pages)
- Insurance [PDF 553 KB] (15 pages)
- Real estate [PDF 272 KB] (21 pages)
February 4, 2021 - KPMG report: Biden Administration and the 117th Congress; possible tax legislation [PDF 2.4 MB] (29 pages)
Special Reports on Proposed Legislation, Enacted Tax Laws
- August 2022: KPMG report: Analysis and observations: Tax law changes in the “Inflation Reduction Act of 2022” [PDF 1.5 MB] (73 pages)
- March 2020: KPMG report: Tax provisions in the CARES Act (COVID-19 “phase 3” response): Preliminary analysis and observations
- March 2020: KPMG report: “Phase 2” coronavirus bill, includes tax relief for paid leave (COVID-19)
- January 2019: KPMG report: Tax policy and the 116th Congress – observations and preliminary analysis
- April 2019: KPMG report: Twenty questions about possible technical corrections to 2017 Tax Act [PDF 317 KB]
- January - March 2018: Tax reform—KPMG report on new tax law [PDF 6.4 MB] (in addition, the items below provide "mini-booklets" with descriptions of tax provisions in the new law concerning certain industries or sectors)
- Tax reform: Provisions relevant to compensation, benefits, & qualified plans [PDF 637 KB]
- New tax law: International provisions and observations [PDF 473 KB]
- Tax reform and the potential impacts to the banking industry [PDF 1.4 MB]
- Tax reform: Issues for exempt organizations (Pub. L. 115-97) [PDF 316 KB]
- New tax law (Pub. L. 115-97)—Energy & natural resources [PDF 1.8 MB]
- Issues for partnerships, S corporations, and their owners [PDF 589 KB]
- Power and utilities industry measures in new tax law [PDF 944 KB]
- Tax reform, accounting for income taxes [PDF 487 KB]
- Accounting for U.S. tax reform under IFRS [PDF 415 KB]
- Tax reform: Provisions relevant to compensation, benefits, & qualified plans [PDF 637 KB]
- December 2017: Conference agreement for H.R. 1, Tax Cuts and Jobs Act - Initial observations [PDF 1.1 MB]
- December 2017: Senate tax reform bill—Initial observations on Senate-passed bill [PDF 1.7 MB]
- November 2017: Senate tax reform bill—Initial observations on Finance Committee bill [PDF 1.3 MB]
- November 2017: House Republican tax reform bill—Initial observations on House-passed bill [PDF 1.8 MB]
- November 2017: Senate tax reform bill—Initial observations on Chairman Hatch's mark [PDF 1.1 MB]
- November 2017: House Republican tax reform bill—Initial observations on Ways and Means Committee bill [PDF 1.8 MB]
- November 2017: House Republican tax reform bill—initial observations on Chairman Brady's mark [PDF 1.7 MB]
- September 2017: Unified framework for comprehensive tax reform—initial observations [PDF 1.0 MB]
- June 2016: House Republican tax reform “blueprint”—initial observations
- March 2016: Preliminary observations about JCT “Bluebook”description of partnership audit reforms
- February 2016: Tax provisions in the administration’s FY 2017 budget [PDF 1.1 MB] (in addition, the items below provide "mini-booklets" with descriptions of tax provisions in the administration's FY 2017 budget concerning certain industries or sectors)
- Closely held businesses and their owners [PDF 549 KB]
- Compensation, benefits, & qualified plans [1.05 MB]
- Exempt organizations [PDF 1.01 MB]
- Insurance [PDF 1.7 MB]
- Passthroughs [PDF 1.35 MB] - January 2016: Protecting Americans from Tax Hikes Act of 2015, year-end tax legislation [PDF 468 KB]
- November 2015: Partnership tax changes in Budget Act [PDF 184 KB]
- September 2015 (KPMG reports): International tax, patent boxes, and tax reform [PDF 3.62 MB]
- 2014: Tax reform proposals of W&M chairman [PDF 2.92 MB] (2014 "Camp report")
- 2015: Comparison: Camp tax reform bill, Obama Administration FY 2016 budget proposal [PDF 693 KB]
- 2015: Tax provisions in the administration FY 2016 budget (in addition, provides "mini-booklets" with descriptions of tax provisions in the administration's FY 2016 budget)
TaxNewsFlash-Tax Reform (TCJA)
Read TaxNewsFlash-Tax Reform (TCJA)
Tax measures enacted (December 2019): KPMG report: Tax provisions enacted in December 2019 appropriations legislation
U.S. tax law (2017): Read KPMG's analysis and observations, as well as industry or sector-specific reports about provisions in the 2017 tax law
KPMG reports on U.S. responses to COVID-19
KPMG’s reports including analysis and observations on responses to the coronavirus (COVID-19) pandemic in the United States
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