Federal Tax Reform Resource Center

Federal Tax Reform Resource Center

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Tax Reform Webinar: What You Need to Know (1:28:26) 


The tax professionals at LBMC help minimize the state and local tax burden and provide crucial information on an ongoing basis to assist in day-to-day operations. 

Tax Reform Roadmap (February 20, 2018)*

**UPDATE August 9, 2018**

IRS issues proposed regulations on new 20 percent deduction for pass-through businesses (IR-2018-162​)

The IRS issued proposed regulations on August 8, 2018, for a new provision allowing many owners of sole proprietorships, partnerships, trusts and S corporations to deduct 20 percent of their qualified business income. 

The new deduction, referred to as the Section 199A deduction or the deduction for qualified business income, was created by the Tax Cuts and Jobs Act. The deduction is available for tax years beginning after December 31, 2017. Eligible taxpayers can claim it for the first time on the 2018 federal income tax return they file next year. 

In addition, Notice 2018-64, also issued Wednesday, provides methods for calculating Form W-2 wages for purposes of the limitations on this deduction. Taxpayers may rely on the rules in these proposed regulations until final regulations are published in the Federal Register. https://www.irs.gov/newsroom/irs-issues-proposed-regulations-on-new-20-percent-deduction-for-passthrough-businesses

IRS

Committee for a Responsible Federal Budget

  • Resources for Tax Reform - CRFB has been tracking and compiling the scores of each bill and the framework as they've been released. This site shows the most up-to-date scores as of January 5, 2018.

The New York Times

Other Tax Reform Resources

* Please note that the roadmap files are updated on an ongoing basis. https://www.bna.com/tax-reform-roadmap