Over the last several months Tax Reform has been one of the stories dominating the national headlines. Speculation on the impact and the final form of this legislation has been growing ever since the first version of the bill was introduce in the House of Representatives on November 2. Now, two months and five votes after the bill was first introduced, the completed legislation has been approved by Congress and signed by the President.
Although the ultimate impacts of this legislation won’t be known for several more years, tax professionals can now at the very least begin to familiarize themselves with the intricacies of the new law. Although the majority of the final provisions should be familiar to those of us who have been following the legislation through both the House and the Senate, several items from each have been dropped or amended by the Conference Committee.
Corporations and other businesses will […]