WASHINGTON, Dec. 15, 2017 /PRNewswire/ -- Michael Mundaca, Ernst & Young LLP's National Tax Department Co-Director and former Assistant Secretary for Tax Policy at the US Treasury Department, commented on tax reform legislation:
"Republican conferees' agreement on a final tax bill paves the way for enactment by year end with significant changes to the way businesses and individuals are taxed. With the rapidly approaching effective dates of many new provisions, there is a short window to seize the chance to prepare and understand these new provisions. We recommend that all taxpayers take action now to understand the impact of the legislation on their tax liability, and businesses to consider the financial statement implications as well as necessary changes to their business operations."
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.
This news release has been issued by Ernst & Young LLP, a member firm of EY serving clients in the US.
View original content with multimedia:http://www.prnewswire.com/news-releases/ernst--young-llp-comments-on-tax-reform-bill-300572249.html