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Tax reform

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The Tax Cuts and Jobs Act – What you need to know, now

With the passage of the Tax Cuts and Jobs Act (“Act”), there is much concern, as well as confusion, as to the impact the new legislation has on both businesses and individuals alike. The tax changes contained in the Act are the most sweeping since the Tax Reform Act of 1986.  As with any tax change, there will be winners and losers, but all taxpayers should be familiar with how the new legislation could impact their specific situation. In this resource center, we have compiled the considerations relating to the tax changes, and we will continue to provide updates on future changes, interpretations, and guidance related to the Act as this issue evolves over the next several months. Our team is prepared to help you understand the impact and considerations for you and your business.

Any advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues. Nor is it sufficient to avoid tax-related penalties. This has been prepared for information purposes and general guidance only and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice specific to, among other things, your individual facts, circumstances and jurisdiction. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its partners, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.