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:

FASB Issues Q&As on Implementation Issues Related to the Tax Cuts and Jobs Act

Posted: January 22, 2018
The Financial Accounting Standards Board has issued four Q&A documents that address various financial accounting and reporting implementation issues related to the Tax Cuts and Jobs Act.

IRS Issues Additional Guidance on Transition Tax on Foreign Earnings

Posted: January 19, 2018
The Treasury Department and the IRS have provided additional guidance for computing the “transition tax” on the untaxed foreign earnings of foreign subsidiaries of U.S. companies under the Tax Cuts and Jobs Act.

IRS Issues Updated 2018 Withholding Tables

Posted: January 11, 2018
The IRS has released Notice 1036, which updates the income-tax withholding tables for 2018 reflecting changes made by the tax reform legislation enacted last month. Employers should begin using the 2018 withholding tables as soon as possible, but not later than Feb. 15, 2018.

Rules for NJ and Federal Property Tax Deductions Vary Widely

Posted: January 11, 2018
New Jersey taxpayers who prepaid one or two quarters of their 2018 property tax assessments at the end of 2017 need to be aware that the amount they can deduct on their federal tax return is not the same as the amount they can deduct on their state tax return.

FASB Addresses Financial Reporting Impacts of New Tax Law

Posted: January 11, 2018
FASB addressed numerous financial reporting implications of P.L. 115-97, known as the Tax Cuts and Jobs Act, in an effort to provide financial statement preparers with timely answers to questions they have posed.

Audit Committees Will be Dealing with New Accounting Standards and Tax Reform This Year

Posted: January 11, 2018
Audit committees at public companies will have plenty on their agendas this year, according to a pair of new reports from KPMG, including new accounting standards, the new tax law, cyber security and more.

7 Steps Employees Can Take to Adapt to the New Tax Law

Posted: January 3, 2018
Tax laws are likely to affect you. Whether you see a net benefit in your paycheck or end up paying more is a function of personal factors. The following article lists 7 steps in adapting to the new tax law.

Taxpayers Should Weigh Considerations Before Deciding to Prepay Property Taxes

Posted: December 22, 2017
The New Jersey Society of CPAs (NJCPA) cautions taxpayers to weigh the pros and cons of prepaying their property taxes, and to consider several factors when deciding to prepay.

Tax Reform Legislation Takes First Step

Posted: November 6, 2017
On Nov. 2, the House Ways and Means Committee released draft tax reform legislation. Among other things, The “Tax Cuts and Jobs Act,” H.R. 1, features new tax rates, a lower limit on the deductibility of home mortgage interest, the repeal of most deductions for individuals, and full expensing of depreciable assets by businesses.