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ARTICLE · 21 AUGUST 2018

Corporate Tax 2018

Seyfarth Shaw LLP
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The United States is currently in the middle of the most hyper-partisan political atmosphere in generations.

United StatesTax
John Napoli
John Napoli
Michael Rosenthal
Michael Rosenthal
Michael Lobie
Michael Lobie
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1 Introduction

The United States is currently in the middle of the most hyper-partisan political atmosphere in generations.  Bipartisan solutions to problems have become nearly impossible, as each side refuses to agree to a solution that might place the other side in a positive light.  Against that background, Congress enacted a comprehensive tax reform package less than two weeks before the end of 2017.  This tax reform legislation has become the single biggest item of focus in the U.S. tax practitioner world.

Public Law No. 115-97 (the "Act") was signed into law by President Donald Trump on December 22, 2017.  The Act was signed just 51 days after it was introduced by the House of Representatives on November 2, 2017.  Unsurprisingly, the Act is entirely partisan, having received support only from Republican members of Congress.  As a measure of just how partisan the Act is, the Act, which was originally named the "Tax Cuts and Jobs Act" (and still is popularly

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