Interest Taxable In GOP Tax Plan?

jamesstewart
  |     |   64 posts since 2011

Has anyone researched if earned interest will be taxable in the proposed tax plan?



Answers
gbtexas
  |     |   78 posts since 2013
Deloitte Tax LLP, part of a major accounting firm, did a very detailed analysis of the tax bill as it currently stood on friday and there was no mention of any changes to interest income. Bear in mind that this is only the beginning to the bill and so far quite a few changes have happened. It still has to, in the House. go through the Ways and Means markup and then to a floor vote. I would expect several changes to occur They still need to provide a path to pay for all of the positive aspects of the bill and this means that unless they can accomplish this through issues outside of the bill they'll need to further modify the taxable nature of items and or eliminate other current deductible features.
Braden
  |     |   129 posts since 2014
Brady said Friday that there would be no amendments on the floor.


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