The Internal Revenue Service and Treasury Department are gearing up to implement the new tax law, a significant undertaking that will be their focus for 2018.
At the same time, lawmakers will likely face the need to change some parts of the law as drafting errors and unintended consequences emerge. Republicans in Congress have already said they plan a technical corrections bill to clean up aspects of the tax changes. They may have to work with Democrats if they want to do anything more sweeping.
Reporters Kaustuv Basu, Allyson Versprille, and Laura Davison spoke with Talking Tax host Matthew Beddingfield on Jan. 2 about what’s next for the regulators and lawmakers in the aftermath of the bill’s passage.