The Congressional Budget Office recently appointed a new director. This director faces many challenges as he assumes this role, one of which is a recently changed method of budget analysis. “The Congressional Budget Office and Joint Committee on Taxation are now required to use dynamic scoring when evaluating major changes in tax and spending policy.” This is in opposition to the system they have been historically utilizing: static scoring. The major difference in the two systems is the presence of an assumption that the regulations passed by the Congressional Budget Office have a direct impact on the path of gross domestic product. This article in the New York Times discusses this difference in more detail, and outlines what the change could mean for corporate taxes in coming years.
About Five Stone Tax Advisers
Five Stone Tax Advisers has years of experience negotiating directly with the IRS to get the best possible outcome for you. Our International Tax Advisory and Compliance unit has a team of tax attorneys, certified public accountants and enrolled agents that form a single sourced point of contact that will provide services for all the legal, compliance and financial reconstruction aspects of offshore account cases.