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:

AICPA Requests Immediate Guidance from IRS and Treasury Department on Deduction for Qualified Business Income of Pass-through Entities

Posted: February 22, 2018
The American Institute of CPAs has requested immediate guidance from the IRS and U.S. Department of the Treasury on various issues regarding section 199A of the new Internal Revenue Code, the deduction for QBI of pass-through entities.

Interest on Home Equity Loans Often Still Deductible Under New Law

Posted: February 22, 2018
Despite newly-enacted restrictions on home mortgages, taxpayers can often still deduct interest on a home equity loan, home equity line of credit or second mortgage, regardless of how the loan is labelled.

FASB Improves Income Tax Accounting Related to the Tax Cuts and Jobs Act

Posted: February 14, 2018
The Financial Accounting Standards Board has issued an Accounting Standards Update that helps organizations address certain stranded income tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act.

IRS Issues Guidance on Changes in Accounting Periods Related to the Transition Tax

Posted: February 13, 2018
The Treasury Department and the IRS have announced modifications to the procedures for changing the accounting period of foreign corporations owned by U.S. shareholders that are subject to the transition tax under the Tax Cuts and Jobs Act.

2018 Pension Plan Limitations Not Affected by Tax Cut and Jobs Act of 2017

Posted: February 6, 2018
The IRS has announced that the Tax Cut and Jobs Act of 2017 does not affect the tax year 2018 dollar limitations for retirement plans announced in IR 2017-177 and detailed in Notice 2017-64.

Opinion: Beyond the SALT Distraction …

Posted: February 6, 2018
Former New Jersey Treasurer Andre Sidamon-Eristoff discusses the impact of federal tax reform in New Jersey, and some actions the state might want to take.

IRS Issues More Guidance on Withholding Rules for New Tax Law

Posted: January 30, 2018
A new IRS notices extends the use of the existing 2017 Form W-4; temporarily suspends the rule that employees must notify their employers of changes in status that affect their withholding within 10 days; provides the new rate of optional withholding on supplemental wages; and more.

AICPA Identifies Top Areas of New Tax Law Requiring IRS and Treasury Guidance

Posted: January 29, 2018
There are 39 areas of the Tax Cuts and Jobs Act about which taxpayers and tax practitioners need immediate guidance, the American Institute of CPAs stated in a letter to the IRS and U.S. Department of the Treasury.

More Than 70 Percent of CPAs Polled Say Treating NJ Property Tax Payments as Charitable Contributions Would Not Hold Up with the IRS

Posted: January 29, 2018
More than 70 percent of the 828 certified public accountants (CPAs) who were polled this month by the New Jersey Society of CPAs (NJCPA) said treating New Jersey property tax payments as charitable contributions would not stand up to legal scrutiny by the Internal Revenue Service (IRS).