Senate Republicans unveiled a tax plan Thursday which chops taxes on businesses and makes major tweaks to the individual tax system. It broadly follows the outlines of a similar bill making its way through the House.
 Comparison Of House And Senate Tax Bills  >> A Tale Of Two Tax Bills Comparing The House Senate Reform Plans

Comparison Of House And Senate Tax Bills >> A Tale Of Two Tax Bills Comparing The House Senate Reform Plans

Senate Republicans on Nov. 9 unveiled their tax plan, which differs considerably from the House bill in a number of ways. Significant changes to the Senate's plan and official release of the actual bill language are expected this weekend, Nov. 11-12.
 Comparison Of House And Senate Tax Bills  >> In 1 Chart The Differences Between The House And Senate Tax Reform

Comparison Of House And Senate Tax Bills >> In 1 Chart The Differences Between The House And Senate Tax Reform

Furthermore, both versions of the bill would increase the tax credits available to families, but the Senate bill is significantly more generous in this respect. The House bill raises the current $1,000 child tax credit to $1,600 and introduces a new "Family Flexibility Credit" worth $300 per year for individuals and $600 for couples.
 Comparison Of House And Senate Tax Bills  >> Senate Gop Tax Bill Would Delay Biz Cut Undo Deductions Atlantic

Comparison Of House And Senate Tax Bills >> Senate Gop Tax Bill Would Delay Biz Cut Undo Deductions Atlantic

HR 1, the Tax Cuts and Jobs Act (House Bill), as introduced in the House Ways and Means Committee on November 2, 2017, included provisions that would, among other things, dramatically affect the taxation of employees and other service providers with respect to nonqualified deferred compensation (including stock options, stock units and stock ...
 Comparison Of House And Senate Tax Bills  >> Comparing The Competing House And Senate Payroll Tax Cut Proposals

Comparison Of House And Senate Tax Bills >> Comparing The Competing House And Senate Payroll Tax Cut Proposals

It would mirror the House bill, repealing the deduction for state and local income taxes or sales taxes, while preserving the deduction for state and local property taxes, capped at $10,000.
 Comparison Of House And Senate Tax Bills  >> A Tale Of Two Tax Bills Comparing The House And Senate Reform Plans

Comparison Of House And Senate Tax Bills >> A Tale Of Two Tax Bills Comparing The House And Senate Reform Plans

The House bill proposed four (4) tax rates: 12%, 25%, 35% and 39.6%. The Senate bill would keep seven (7) brackets and reduce the top marginal rate to 38.5%. Standard Deduction. The standard deduction amounts for 2018 - absent reform - are $6,500 for individuals, $9,550 for heads of households (HOH), and $13,000 for married couples filing jointly.
 Comparison Of House And Senate Tax Bills  >> Key Differences In The House And Senate Tax Bills

Comparison Of House And Senate Tax Bills >> Key Differences In The House And Senate Tax Bills

Comparison of House and Senate Tax Bills and Impacts on Nonprofits Printer-friendly version Please click the image to the right to download our comparison of the key provisions in the House and Senate tax bills that could affect nonprofits.
 Comparison Of House And Senate Tax Bills  >> Comparing The Competing House And Senate Payroll Tax Cut Proposals

Comparison Of House And Senate Tax Bills >> Comparing The Competing House And Senate Payroll Tax Cut Proposals

The House passed a nearly $1.5 trillion tax bill that differs from legislation approved by the Senate Finance Committee. A comparison of the Republican-written measures: The House passed a nearly $1.5 trillion tax bill that differs from legislation approved by the Senate Finance Committee.
 Comparison Of House And Senate Tax Bills  >> Senate Republican Tax Plan Creates Winners And Losers

Comparison Of House And Senate Tax Bills >> Senate Republican Tax Plan Creates Winners And Losers

Estate Tax: Both the House and Senate bills immediately double the estate tax exclusion while retaining stepped-up basis. The House repeals the estate tax beginning in 2025. In the Senate bill, the expanded estate tax exclusion expires after 2025 with the exclusion amount reverting to current law.
 Comparison Of House And Senate Tax Bills  >> Is There A Heart A Comparison Of The House And Senate Health Bills

Comparison Of House And Senate Tax Bills >> Is There A Heart A Comparison Of The House And Senate Health Bills

Comparison of Key Provisions in House/Senate Tax Reform Bills UPDATED December 15, 2017 1 House-passed version of the Tax Cuts and Jobs Act, H.R. 1 (passed 11/16/2017) 2 Senate Manager’s modified substitute version of the Tax Cuts and Jobs Act (passed 12/2/2017).
 Comparison Of House And Senate Tax Bills  >> Comparison Of House And Senate Tax Bills And Impacts On Nonprofits

Comparison Of House And Senate Tax Bills >> Comparison Of House And Senate Tax Bills And Impacts On Nonprofits