By Richard Rubin WSJ Thu., Feb. 7, 2019 WASHINGTON—In 2017, Congress passed the Tax Cuts and Jobs Act. Many of the jobs it is creating, it turns out, are in the tax industry. The overhaul continues to generate thousands of jobs for tax professionals as companies analyze the law, restructure operations and rely on tax experts to do all the work flowing from the legislation and IRS regulations, according to lawyers and executives at tax firms. Business is unusually strong and should remain robust for years as a result of the law, they say. U.S. accounting firms crossed the one-million-employee threshold last year, according to the Labor Department. Job growth in the sector in the first year of the law was 3.6%, the second-strongest year in the current expansion. Deloitte Tax LLP grew by 10% this fiscal year and expects another 10% bump next year. KPMG LLP says it hired twice as many experienced employees in 2018 in its U.S. tax practice as it did the year before. “Tax-reform legislation and all the implementing guidance have been very good for tax practices,” said David Noren, a partner at McDermott Will & Emery LLP. “It’s created just a whole lot of… Read full this story
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