Industry Specific Tax Reform February 19, 2018 Kerry Industry Specific Tax Reform The sweeping changes under the 2017 tax act contain elements that will likely spur profits and growth across many industries, while also creating compliance challenges and traps for the unwary. One thing is certain: The tax treatment of business and high-wealth individuals under the act has only increased in complexity, and taxpayers are likely to face trade-offs as they navigate the new provisions.