The Tax Cuts & Jobs Act

 

News and Articles

IRS Issues Proposed Section 199A Regulations

Posted: August 8, 2018
The IRS has issued proposed regulations for a new provision allowing many owners of sole proprietorships, partnerships, trusts and S corporations to deduct 20 percent of their qualified business income.

NJCPA Working with Senate President to Introduce Pass-Through Entity Tax Legislation

Posted: August 8, 2018
The NJCPA State Tax Task Force is working with Senate President Sweeney to draft legislation that will establish an entity-level tax on pass-through businesses to allow pass-through owners to get around the cap on SALT deductions in the new federal tax law.​

Treasury, IRS Propose Regs on New 100-Percent Depreciation

Posted: August 3, 2018
The Treasury Department and the IRS have issued proposed regulations on the new 100-percent depreciation deduction that allows businesses to write off most depreciable business assets in the year they are placed in service.

IRS Issues Guidance on Small Business Accounting Method Changes Under TCJA

Posted: August 3, 2018
The IRS has issued guidance on new tax law changes that allow small business taxpayers with average annual gross receipts of $25 million or less in the prior three-year period to use the cash method of accounting.

The Effect of Tax Law Changes on Financial Planning

Posted: August 2, 2018
Taking advantage of tax efficiency can make a significant difference in your clients’ personal lifestyles during retire­ment. It is most often the clients’ biggest expenditure, so it is important to help them reach their goals by following the new strategies available.

Proposed Regulations Issued for Implementing Section 965

Posted: August 1, 2018
Section 965, enacted in December 2017, levies a transition tax on post-1986 untaxed foreign earnings of specified foreign corporations owned by U.S. shareholders by deeming those earnings to be repatriated.

More Taxpayers Will Owe the IRS in April Because of Underwithholding, Report Says

Posted: August 1, 2018
More Americans will be writing a check to the IRS in April because their employers are not withholding enough from their paychecks following the new tax law, the Government Accountability Office says in a new report.

IRS Offers Guidance on Recent 529 Education Savings Plan Changes

Posted: July 30, 2018
The IRS and Department of the Treasury have announced their intent to issue regulations on three recent tax law changes affecting popular 529 education savings plans.

Presentation Materials

The AICPA has developed two PowerPoint presentations for CPAs to use when discussing the Tax Cuts & Jobs Act with various audiences: