State and Local Tax (SALT) attorney Bruce Ely was quoted in Bloomberg BNA on the impact of Election 2016 on federal tax code changes and how that would affect state and local taxes. While a Clinton or Trump presidency would likely determine the independence of the Internal Revenue Service, the incoming president may have little influence on the new audit treatment of partnerships.
“This is such a complex, niche area that neither the Trump nor Hillary plan really contemplates getting so granular as to deal with something like that,” Ely said. “I don’t think that kind of technical corrections bill will rise to the level of a major issue in their tax plans.”
The complete article, “Trump or Clinton Grip on IRS May Influence State Taxes,” appeared in Bloomberg BNA on November 4, 2016.