CHICAGO, Nov. 9, 2016 /PRNewswire/ -- Following a lengthy and contentious campaign season, the American public has elected Donald Trump as president of the United States. It remains to be seen whether President-elect Trump will preside over significant tax reform, but according to the following summary developed by Crowe Horwath LLP, there are several things to consider across the spectrums of corporate, individual, international, and estate and gift taxation. Crowe is one of the largest public accounting, consulting and technology firms in the U.S.
"As expected, tax policy was a hot button issue on the campaign trail and, conveniently, this election year coincides with the 30th anniversary of the Tax Reform Act, which was the last time sweeping changes were made," said Howard Wagner, Crowe National Tax Services managing director. "With the election of Donald Trump, we'll likely see a push around unraveling the tax code, including significant rate reductions for corporations and individuals, as well as radically changing the current international tax system."