NAEA Weighs In on Tax Reform Implementation
This Week's News
February 23, 2018
After the start of the 2018 filing season, IRS invited NAEA to present the tax reform implementation challenges NAEA members considered to be most important to taxpayers. IRS also invited NAEA to submit written comments on top-line individual tax reform implementation recommendations.
During IRS's closed-session February 7 National Public Liaison Tax Reform Roundtable with tax practitioner and tax industry stakeholders, NAEA's top three tax reform implementation recommendations affecting a broad scope of individual taxpayers included the following:
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allocation of state and local taxes for purposes of the $10,000 cap;
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deductibility of home equity loans; and
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meal and entertainment costs.
NAEA Executive Vice President Robert Kerr presented NAEA's priorities in a meeting with IRS senior leadership and followed up with a letter to IRS Acting Commissioner David Kautter.