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The House version, 115 H.R. 1 and the Senate version, 115 S. 1 of the Tax Cuts and Jobs Act passed so quickly that there may be a slew of unintended consequences if enacted. A conference committee is currently ironing out the differences between the versions, but this will not address the many loopholes in the legislation.
The "glitches" would allow, among other things, using either pass-through entities or corporations as shelters for personal income, shifting facilities or physical assets to game the bills' provisions on taxing intangible income, "round-tripping" products abroad and back to achieve preferential rates on exports, and gaming the bills' different timelines for phasing new business tax rates in and out. The authors of the report, which was released on the Social Science Research Network, blamed the quick drafting and passage of the bills and said the costs were likely not correctly estimated by the Joint Committee on Taxation and the Congressional Budget Office in numerous scores of the legislation. Tax Reform Bills Rife With Loopholes, Experts Say, Law360, December 7, 2017.