From the April 2011 issue of Treasury & Risk magazine

Fuzzy Tax Reform

While the Obama administration highlighted a number of corporate tax reform issues in its fiscal year 2012 budget, tax experts agree that major changes--especially those likely to be unpopular with business--probably will be postponed until after the 2012 presidential election. Hank Gutman, a principal in the national tax practice of KPMG in Washington, predicts little reform will occur this year. "These issues are very complex--as a matter of economics and policy, and as a matter of politics," he says.

Gutman points to the Tax Reform Act of 1986 as an example of the far-reaching scale of the tax reform that's under discussion but says, "The 1986 experience is not particularly relevant to today because the economic and fiscal situations are entirely different."


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