Daily Tax Report ®

Tax Legislation ‘Blue Book’ Coming: What It Is, Why It Matters

Nov. 21, 2018, 12:37 PM

The nonpartisan Joint Committee on Taxation is set to release its explanation of the 2017 tax law soon—what’s known as the “blue book.” It may be the most anticipated edition yet of the publication.

There’s a lot of interest in the upcoming blue book because of the significance of the tax overhaul law, said John Gimigliano, the principal-in-charge of federal tax legislative and regulatory services at KPMG LLP. “It has far-reaching impacts for taxpayers of all sorts—individuals, small businesses, larger businesses, multinationals—and there are pieces that are novel and complex.”

The JCT generally releases a blue book at the...

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