RVG Tax Reform – Individuals

Congress passed the Tax Cuts and Jobs Act on December 20, 2017, marking the most comprehensive overhaul of the tax code since 1986. The new law will go into effect on January 1, 2018, and contains major changes for individuals and businesses. This article is a summary of the key changes to individuals. All of the changes affecting individuals would expire after 2025. At that time, if no future Congress extend the provisions, the individual tax provisions would sunset, and the law would revert to its current state.

RVG Tax Reform – Business

Congress passed the Tax Cuts and Jobs Act on December 20, 2017, marking the most comprehensive overhaul of the tax code since 1986. The new law will go into effect on January 1, 2018, and contains major changes for individuals and businesses. This article is a summary of the key changes to businesses. The changes affecting businesses are significant and are made permanent.