Joint Committee on Taxation Releases Backgrounder in Advance of House W&M Hearing on Interaction of Tax, GAAP on Tax Reform

In advance of Wednesday's (Feb. 8) Congressional hearing on the interaction of tax law and financial accounting standards, in particular as may relate to behaviors (corporate actions) arising from either or both, and specifically in the context of the potential resulting impact on tax reform, the Joint Committee on Taxation released a related background paper earlier today (Tues. Feb. 7). As we reported last week, [1] the hearing taking place on Wednesday is being conducted by the House Ways and Means Committee, and is the first of two hearings on this topic planned by the committee. Read more here [2].