The Tax Cuts and Jobs Act (TCJA) significantly altered how business income is taxed in the US. This paper provides a quantitative assessment of the distributional and macroeconomic effects of the TCJA, both in the short run and in the long run, using a life-cycle model with occupational ...
This provision is another that’s set to expire at the end of 2025 unless extended or revised by Congress. 5. The mortgage interest deduction cap was lowered to mortgages under $750,000 The Tax Cuts and Jobs Act reduced the limit on the mortgage interest deductions from mortgages of $1 mi...
The spotlight may be on the US 2024 presidential election, but tax executives can’t afford to take their eyes off 2025 and beyond. That’s when federal and global tax policies will come to a head. Key individual provisions of the Tax Cuts and Jobs Act (TCJA) of 2017 expire, and chan...
How the Tax Cuts and Jobs Act changed our tax system. Enacted just before the end of 2017, the Tax Cuts and Jobs Act is a major overhaul of federal income taxation. Most of its provisions affecting individual taxpayers take effect in 2018 and are scheduled to expire eight years later. AM...
The Tax Cuts and Jobs Act overhauls investing in foreign entities. In addition to expanding the definition of IP, the TCJA also implements the following base erosion provisions, effectively imposing a minimum tax on MNEs: GILTI, FDII, and the BEAT on Dom
The Tax Cuts and Jobs Act contains several provisions that will have a significant impact on specific types of entities and investments.
ALERT MEMORANDUM Tax Cuts & Jobs Act: Considerations for M&A December 27, 2017 On December 22, 2017, the President signed into law the 2017 U.S. tax reform bill formerly known as the Tax Cuts & Jobs Act (the "TCJA"). Most of the TCJA's provisions take effect January 1, 2018. The...
November 5, 2018 www.cordascocpa.com TAX CUTS AND JOBS ACT (INCLUDING RECENT IRS GUIDANCE) INTRODUCTION The "Tax Cuts and Jobs Act" (TCJA) signed into law in late 2017 represents the most substantial tax reform legislation since 1986, and most of its provisions are first effective in 2018...
BACKGROUND The Tax Cuts and Jobs Act (“TCJA”) creates, modifies or eliminates a number of employment and employee fringe benefit related provisions of the Code. Both employers and employees need to be aware of these changes. Accordingly, this installm
On December 20, 2017, the U.S House of Representatives and. Senate passed H.R. 1, “[a]n Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018” (referred to hereinafter as the “Tax Cuts and Jobs ...