2017 Proposed Tax Reform Legislation – Explained

On December 2, 2017, the Senate passed its version of the “Tax Cuts and Jobs Act.” This proposed tax reform will be reconciled with the House of Representatives’ bill, which passed several weeks earlier. The final bill may become law by the beginning of the new year, and it is poised to make radical changes to the current tax code. To get a better sense of what each bill contains, including their differences from each other and the potential impact they could have on individual and business tax planning, get our update here.