Occasionally, a majority party in Congress may opt to use a process known as “budget reconciliation” to enact changes to the tax code, which allows certain legislation to advance through the Senate on a simple majority vote.
Whether you're advising clients, managing compliance, or planning for upcoming changes, understanding how budget reconciliation shapes tax legislation is essential. These FAQs are designed to equip CPAs with the context and clarity needed to anticipate developments, evaluate potential impacts, and respond with