Trump victory and GOP Congress could pave the way for
significant tax changes, though important details are yet to be
determined
Surprising the vast majority of pollsters and many political
pundits, Donald J. Trump prevailed in the US election on November
8, and will be inaugurated as the country's 45th president on
January 20, 2017. Among his policy priorities, Trump has outlined a
range of tax measures that could result in substantive changes for
US taxpayers, including Canadian residents who file tax returns
with the IRS.
What will these changes mean for you? After reviewing the Trump
campaign's tax plan, there are some early indications of the
path ahead. Of course, in assessing the impact of any tax measures,
the details are essential, but few political campaigns bother to
burrow too deep into specifics. This means that while the broad
outlines of the tax proposals are known, many of the details are
yet to be determined. Still, we can draw some
