The IRS should issue immediate guidance in 39 areas affected by P.L. 115-97 (known as the Tax Cuts and Jobs Act), AICPA Tax Executive Committee Chair Annette Nellen said in a letter to the IRS and Treasury on Monday. She called on the IRS to issue immediate guidance to help both taxpayers and tax…
Everyone is talking about the big changes to the tax code, but it's important your members in public accounting don't lose sight of the other big issues affecting clients in 2018. Share this AICPA Insights blog post on your communications channels to help your members learn what their clients should focus on this…
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The IRS on Thursday issued new income tax withholding tables that reflect new tax rates and other changes for individuals implemented by P.L. 115-97, known as the Tax Cuts and Jobs Act, enacted Dec. 22 (Notice 1036). Employers should use the updated withholding rules for 2018, putting them into effect as soon as possible but no later than Feb. 15, the IRS said. Until then, employers should continue to use the 2017 withholding…
The House of Representatives has reapproved tax-reform legislation, sending the bill to President Donald Trump for his signature. The bill had to pass the House a second time because of minor changes made in the Senate.
Senate Republicans have decided to include the repeal of the Affordable Care Act's requirement that most people have health insurance into the sprawling tax rewrite, merging the fight over health care with the high-stakes effort to cut taxes.