Proposals May Signal Direction of Future Tax Reform

Skadden, Arps, Slate, Meagher & Flom LLP

Pamela Lawrence Endreny Nathan W. Giesselman Armando Gomez Brian Krause Moshe Spinowitz David A. Schneider Thomas F. Wood

In February 2014, the chairman of the House Ways and Means Committee released a draft tax reform plan that would significantly alter the Internal Revenue Code for the first time in three decades. While it is doubtful reform will move forward this year, taxpayers should not ignore the proposals, which may represent the first phase of a new reform effort in the coming years.

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