Tax Reform’s Provisions Affecting Partnerships, Corporations, and Individuals
On December 20 2017, Congress passed sweeping tax reform legislation, the Tax Cuts and Jobs Act (TCJA). President Donald Trump is expected to sign the legislation by year-end or in early January.
Below is analysis and summaries of some of the key provisions affecting partnerships and other pass-through entities, C corporations, individuals, and international business. Commentary on the new provisions is italicized.