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2017 Tax Act: Client Alert

Thursday, December 28, 2017

Tax Reform Becomes Law

On December 22, 2017, President Trump signed H.R. 1, enacting a sweeping tax reform bill into law. In light of the many changes going into effect on January 1, 2018, taxpayers should consider, with their advisors, one or more of the following actions in the last week of 2017:

Many of the provisions of the new law are summarized below.

Individual and Fiduciary Income Tax

The individual and fiduciary income tax changes are numerous and wide-ranging, including:

Passthrough Income Tax

Estate and Gift Tax

Corporate Income Tax

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