Challenges ahead for tax policy - 2013 Tax Legislative Outlook
The enactment of the American Taxpayer Relief Act of 2012 made permanent the 2001 and 2003 tax rates for most Americans and extended through the end of 2013 other key business and individual tax provisions. While this legislation addressed certain 'fiscal cliff' issues, continued debate over federal deficits, revenues, and spending will be a key factor in consideration of 2013 tax legislation and efforts to reform US tax laws to promote economic growth and competitiveness.
In this publication, PwC's Washington National Tax Services (WNTS) offers a preview of the key tax policy issues facing the Obama Administration and Congress in 2013, including the outlook for comprehensive tax reform, deficit reduction, business tax provisions that expire at the end of 2013, and other tax policy matters of importance to today's business leaders.