Congress Approves Sweeping Tax Overhaul

The Tax Cuts and Jobs Act (H.R. 1) has been approved by Congress and is on its way to the White House. After a last-minute procedural glitch that required the Senate to vote first on the final bill, the most sweeping change to the U.S. tax code in decades cleared the Senate, 51 to 48, in the early morning hours of December 20, followed by House approval, 224 to 201, later the same day. A few hours ago, President Trump signed the bill into law.

H.R. 1, as approved by Congress, impacts virtually every individual and business on a level not seen in over 30 years. As with any tax bill, however, there will be “winners” and “losers.”

To assist you with tax planning under the new bill, we have teamed with CCH/Wolters Kluwer to provide our clients with an in-depth look at the new provisions, “Congress Approves Sweeping Tax Overhaul” 

Please contact us with any questions about this major tax reform.

You might also like

Expect IRS Delays This Season

U.S. Treasury officials are warning of longer processing times of tax returns and responses to taxpayer inquiries for the upcoming tax season

HR Update: Feeling Valued

By Sue Winkler, Director of Client HR Services Building off the November and December articles on supporting and engaging the management team,