2016 began and ended with the promise of comprehensive tax reform. The election of Donald Trump as the 45th President of the United States appears to make tax reform likely in 2017. At the same time, legislation, court decisions and IRS determinations issued in 2016 will impact 2017 and beyond. During 2016, the IRS issued regulations on a number of far-reaching subjects, including corporate taxation, international taxation, individual taxation, health care, and more. Congress also passed several targeted tax laws. Looking ahead, 2017 is almost certain to be a pivotal year for taxes and tax planning.
