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:

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).

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.

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.