As you may know, Chairman Camp recently released the proposed legislation titled "Tax Reform Act of 2014". This proposed legislation would substantially affect all taxpayers, both individuals and businesses. It is the most sweeping tax change since 1986. The proposed legislation is designed to make tax law "fairer" and less complex.

It is important to recognize that there will be winners and losers in this major tax change.   While we do not expect that major tax reform will happen in 2014, when reform is finally passed there will likely be significant changes to the current proposed legislation. Gray, Gray & Gray will stay on top of this ongoing tax reform to bring you more updates.

Stay tuned for announcement of our upcoming webinar on the proposed tax reform and its potential impact on you, your business or charitable organizations!

In the meantime, if you have questions about the proposed tax reform, please