The process continues in D.C. as the Tax Cuts and Jobs Act faces hearings before the House Ways and Means Committee.

On Monday Chairman Brady released a set of amendments, adopted by the Committee, that made the following revisions to the bill.

Rules mandating proper net earnings from self-employment for earned income tax credit
Employers must give employees’ name and address on payroll tax returns
Three year holding period for carried interests to get long term capital gain treatment
1.4% excise tax only applies to universities with endowments of more than $250,000 per student
Deferral up to five years for income from stock options or restricted stock units if corporation’s stock is not publicly traded
Restores ability to treat self-created musical works as capital assets
Continue employer exclusion of dependent care assistance of up to $5,000 through 2022