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News & Press: CBA

A Message from ABA President: Treatment of Law Firms in Tax Relief Bills

Friday, December 15, 2017   (0 Comments)
Posted by: Connecticut Bar Association
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 The message below was sent out on Wednesday, 12/13
from American Bar Association President Hilarie Bass.

"Dear Colleague:

As you may have heard, the tax reform bills passed by the House and Senate obtain provisions that exclude many law firms and other professional service businesses from the substantial federal tax reductions that will be granted to most other partnerships and other 'pass-through entities.' (The House bill would completely deny a new 25% pass-through tax rate to law firms, while the Senate bill would only allow law firms to receive a new 23% tax deduction if the law firms' income fell below a certain threshold.)

The ABA is joining lawyers and law firms around the country in opposing these discriminatory provisions, and we need your help to make sure that they are removed from the final tax legislation.

Please call Congress today at (202)224-3121 and tell your senators and representative that you opposed discriminatory provisions in the tax bills that prevent law firms from receiving the same tax reductions as other pass-through businesses. (Look up your legislators here.) The ABA is not taking a position on the overall tax reform legislation, and we are not asking you to take a position.

Our message is simple: 'All pass-through businesses should be treated equally, and law firms should be unfairly excluded from new pass-through tax reductions.'

Talking points and more information about pass-through entities and the proposed tax legislation is available on our website. If you have any questions or would like to share feedback about your calls please e-mail us at: GrassrootsCenter@americanbar.org.

Sincerely,

Hilarie Bass
President, American Bar Association"

 

 


 

 

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