Abstract
Since the Tax Reform Act of 1986, the Tax Cuts and Jobs Act (TCJA) of 2017 was the most comprehensive revision of the United States (US) income tax code. This article reports on analysis of and conclusions based on a survey of accounting professionals, Internal Revenue Service data and a sample of corporate reports. Some trends in data extracted from the Internal Revenue Service show that the tax burden tends to shift from corporations to individuals. At the same time, it does not appear that large US corporations are taking advantage of tax credits to promote investment. The survey results indicated tax reform itself and the inherent accounting readjustments are identified as risks in corporate decision-making. Overall, it was concluded that the IRS needs to provide further clarification of the implementation of the TCJA
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