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House and Senate are close to agreement on final aspects of proposed tax legislation, making enactment this year highly likely.
The medical device tax is set to resume on Jan. 1, 2018, however a House bill was introduced to delay the tax another five years.
The IRS has released new Frequently Asked Questions that provide additional guidance with respect to several issues.
The Joint Committee on Taxation has released a comparison of the final House and Senate tax bills to help the conferees.
Many initial provisions in the Senate plan that could affect exempt organizations are absent in the final approved version.