The Tax Cuts & Jobs Act

 

Tax Reform Events


Presentation Materials

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

Tax Reform and 2019 Returns

Posted: May 2, 2018
While the majority of taxpayers’ returns from the tax season just completed were not affected by the Tax Cuts and Jobs Act, the impact of its provisions will be felt for years to come – and right now is a good time to start getting ready.

Bunching Charitable Donations After the New Tax Law

Posted: April 30, 2018
Changes to tax law make it less likely that individuals will have a tax benefit from making charitable contributions. Find out how to deal with these developments for individual taxpayers and not-for-profit organizations.

IRS Grants Relief for Taxpayers Affected by Reduction of Maximum Deductible HSA Contributions

Posted: April 26, 2018
The IRS has announced relief for taxpayers with family coverage under a High Deductible Health Plan who contribute to a Health Savings Account.

IRS Describes New Reporting Requirements for Certain Life Insurance Transactions

Posted: April 26, 2018
The IRS has outlined the new information reporting requirements for certain life insurance contracts under new IRC 6050Y, which was added by the Tax Cuts and Jobs Act. The new reporting requirements apply to reportable death benefits paid and reportable policy sales made after Dec. 31, 2017.

Many Corporations Will Pay a Blended Federal Income Tax This Year Under the New Tax Reform Law

Posted: April 16, 2018
Due to a provision in the recently enacted Tax Cuts and Jobs Act, a corporation with a fiscal year that includes Jan. 1, 2018 will pay federal income tax using a blended tax rate and not the new flat 21 percent tax rate.

Understanding the New Sec. 199A Business Income Deduction

Posted: April 9, 2018
The deduction, which lets businesses other than corporations deduct 20 percent of qualified trade or business income earned in a qualifying trade or business, is subject to limitations. Find out what they are and how the deduction works.

IRS Issues Guidance on Business Interest Expense Limitations

Posted: April 2, 2018
The notice describes rules addressing the calculation of the business interest expense limitation at the level of a consolidated group of corporations and other rules to clarify certain aspects of the law as it applies to corporations.

IRS Encourages ‘Paycheck Checkup’ for Taxpayers to Check Their Withholding

Posted: March 26, 2018
In light of the Tax Cuts and Job Act, taxpayers are encouraged to do a “paycheck checkup” to make sure they have the right amount of tax taken out of their paychecks for their personal situation.