Congress Passed the Tax Cuts and Jobs Act of 2017: What Now? What’s Next? Continued from page 63 regulations that IRS and Treasury are prioritizing for the year. The Plan can be found on the IRS website. ■ TECHNICAL CORRECTIONS TAX LEGISLATION. Congress is considering a “technical corrections” legislative tax package this year, although the timing for passage is not yet clear. These technical corrections are meant to fix or clarify areas in the H.R. 1 statu- tory language where there is confusion. Recognizing that Congress expedited H.R. 1 through the legislative process last year, the need for technical corrections has become important for the business community. ■ JCT BLUEBOOK. The Joint Committee on Taxation (JCT) is a nonpartisan committee of Congress responsible for advising Members and staff on all aspects of tax legislation, including techni- cal issues and revenue implications. JCT is cur- rently considering the “bluebook” to H.R. 1. The bluebook will provide important guidance on key questions stemming from the H.R. 1 statute. ■ ADDITIONAL TAX LEGISLATION. Congress may also consider additional tax cut legislation later this year. The legislation could go beyond technical corrections, providing additional tax relief to tax- payers and the business community. The timing of additional tax cut legislation is uncertain, but this would provide businesses an opportunity to advocate for tax proposals that were not included in H.R. 1. If your business is seeking clarifications to H.R. 1 to take full advantage of the tax benefits that Congress intended, the above four vehicles moving through Congress and IRS/Treasury provide opportunities. However, these windows will not be open for long. The time is now to speak with your tax advisor and consider your policy and regulatory options in Congress and IRS/Treasury. Jorge Castro is Founder and Principal of Castro Strategies, LLC, a tax consulting and lobbying firm in Washington, D.C. Jorge previously served as Counselor to the IRS Commissioner and as tax coun- sel in the U.S. Senate and House of Representatives. Before entering government, Jorge was an Associate at a leading Washington law firm. For more informa- tion on Castro Strategies, visit www.castrostrategies.com. New NATA Members • AMS Heli Design LLC James Smisek Denison, TX [email protected] (903) 419-2034 • Aviation QC LLC Dennis Mack Chandier, TX [email protected] (903) 571-3226 • Bent Wing Flight Services Brian Echard Fernandina Beach, FL [email protected] (904) 849-4321 • Centrex Construction Katie Bray Tigard, OR [email protected] (503) 684-0443 • Adam T Darst Adam Darst West Dundee, IL [email protected] (847) 977-9317 64 Aviation Business Journal | 2nd Quarter 2018 • Jackson Hole Airport Jim Elwood Jackson, WY [email protected] (307) 733-7695 • Flight Training Operations LLC dba One Above Aviation Mark Robinson Santa Ana, CA [email protected] (949) 335-7955 • Florida Aviation Career Training Inc Bjorn Ottesen Saint Augustine, FL [email protected] (904) 824-9401 • Gemini Flight Support Stanley Thurston Atwater, CA [email protected] (209) 725-1455 • Hertzler Aviation Group Joe Hertzler Cody, WY [email protected] (307) 578-7279 • Jetset Interiors LLC Kevin Villeneuve Dallas, TX [email protected] (613) 261-3006 • Million Air - Syracuse Louis Storms Syracuse, NY [email protected] (315) 937-5770 • Munser Aviacion S.A./Munser FBO Mercedes Puppo Buenos Aires, Argentina [email protected] 5411-45751070 • Parker Hannifin Phillip Tran Colorado Springs, CO [email protected] (719) 531-5855 • Platinum Air Center - JKA Emily Henriksen Gulf Shores, AL [email protected] (251) 923-0050 • Port of Walla Walla dba Walla Walla Jennifer Skoglund Walla Walla, WA [email protected] (509) 525-3100 • Sterling Aviation - Leesburg Roland Pinto Leesburg, VA [email protected] (604) 722-6130
