On December 22, 2017, President Trump signed sweeping tax reform legislation (H.R. 1) into law. The new law, commonly known as the Tax Cuts and Jobs Act (the “Tax Act”), makes significant changes to the Internal Revenue Code (the "Code") that will have an impact on individuals, ...
The Tax Cuts and Jobs Act of 2017 (TCJA) and Its Impact on Investors, Their Trusts, Investment Entities, Retirement Plans and Estates--Part 1 Tax Reform for IndividualsMarsan, DeanJournal of Taxation of Financial Products
A key selling point of the 2017 Tax Cuts and Jobs Act was that it would discourage multinational corporations from funneling billions in profits to offshore tax havens, bringing that money back to the U.S. where it could create jobs and boost economic growth. But a recent analysis concludes...
On December 20, 2017, the House passed the reconciled tax reform bill, commonly called the “Tax Cuts and Jobs Act of 2017” (TCJA), which the Senate had passed the previous day. It’s the most sweeping tax legislation since the Tax Reform Act of 1986. The bill makes small reductions ...
The Tax Cuts and Jobs Act (TCJA), signed into law on December 22, 2017, is arguably the most comprehensive reform of U.S. tax code since 1986. In particular, the TCJA makes fundamental changes to the way corporations and pass-through entities are taxed. This alert briefly explains some ...
On December 20, 2017, for the first time in 30 years, Congress passed major tax legislation in the form of the Tax Cuts and Jobs Act of 2017, Pub. Law No. 115-97 (Act), signed into law by President Donald J. Trump on December 22, 2017. T...
The Tax Cuts and Jobs Act (TCJA)—enacted on January 1, 2018, under President Donald Trump—is significant legislation that altered many parts of the federal U.S. tax code. Many of its provisions are scheduled to sunset in 2025.
Executive Summary Major tax reform typically only occurs once every decade or few. But after a tumultuous series of negotiations in both the House and Senate, a final reconciled version of the Tax Cuts and Jobs Act of 2017 appears to be heading shortly to President Trump for signature....
Senate versions of the bill. After some technicalities and re-approval by both the House and Senate, the Tax Cuts and Jobs Act is on its way to being signed by President Trump. The new law will enact comprehensive changes to both individual and business taxation including reductions in tax ...
The Tax Cuts and Jobs Act (TJCA) was signed into law in 2017. The act nearly doubled the standard deduction and eliminated or limited many itemized deductions.1As a result of the act, many people who used to itemize on Schedule A took the standard deduction instead. ...