We use cookies to make your experience better. To comply with the new e-Privacy directive, we need to ask for your consent to set the cookies. Learn more.
Federal Tax Legislation
Wolters Kluwer Tax & Accounting US has you covered. Stay informed of important developments in tax legislation. Key items include guidance and new rules involving healthcare, international taxation and partnerships.
Featured Titles
Internal Revenue Code: Income, Estate, Gift, Employment and Excise Taxes (Winter 2019)
Book - Softcover
$185.00
Stay Informed
Federal Tax Updates (Full-Day Course)
More than ever, this year promises to be one with lots of questions from your clients. Find your way through the uncertainty with this eight-hour CPE webinar.
Recent Legislation
Tax Cuts and Jobs Act Guidance
Updated: Aug. 14, 2018
The Tax Cuts and Jobs Act of 2017 was the largest piece of tax legislation in the
Unites States in over 30 years. Throughout the legislative process, the stated
goal of tax reform was to simplify the Internal Revenue Code and lessen the
burden on taxpayers' filing responsibilities. Although many provisions (such
as reduced rates, the elimination of alternative minimum taxes for corporations
and the elimination of many deductions and exemptions) were relatively
straightforward, the Tax Cuts and Jobs Act also introduced several new taxes and
deductions, as well as a number of very significant changes, all of which would
require new guidance from the IRS on the implementation of the new law.
Read the full coverage here
U.S. Supreme Court Wayfair Decision
Updated: June 21, 2018
In a 5 to 4 decision, the U.S. Supreme Court has held that Quill Corp. v. North Dakota, 504 U. S. 298, and National Bellas Hess, Inc. v. Department of Revenue of Ill., 386 U. S. 753, are overruled because Quill 's physical presence rule is unsound and incorrect. The impact of the decision is far-reaching, as states are now free to levy taxes on sales of goods and services regardless of whether the seller has a physical presence in the state.
Read the full coverage here
2018 Post-Filing Season Update
Updated: April 26, 2018
The 2018 individual tax filling season has come to an end. Other than an IRS electronic processing system glitch on Tax Day, which led to the extension of the filing deadline to midnight on April 18, Acting IRS Commissioner David Kautter reported to Congress on April 17 that the 2018 tax filing season had gone smoothly. The IRS reported no major breaches of its primary systems by cybercriminals. Congress and the White House continue tax reform discussions as Republican leaders gear up for a "second phase."
Read the full coverage here
2017 Tax Year-In-Review
Updated: Jan. 02, 2018
A review of the most significant developments of 2017 starts with the Tax Cuts and Jobs Act of 2017, the first major "tax reform" law enacted since 1986. In spite of its overall drive toward a "more simple tax code," the new law has already created confusion over many of its provisions for individuals, and even more so for businesses. The provisions within the new law are generally not effective until January 1, 2018, although some reach back into late 2017. As taxpayers deal with these new rules, however, they must also address scores of other changes to the tax law that were made throughout 2017 by Congress, the IRS and the courts that directly impact the 2017 tax year. With the 2018 tax filing season coming up, knowing the impact of 2017 changes on about-to-be-filed 2017 tax-year returns is critical.
Read the full coverage here
Tax Cuts and Jobs Act
Updated: Dec. 22, 2017
The Tax Cuts and Jobs Act (H.R. 1) has been approved by Congress and signed by President Trump. After a last-minute procedural glitch that required the Senate to vote first on the final bill, the most sweeping change to the U.S. tax code in decades cleared the Senate, 51 to 48, in the early morning hours of December 20, followed by House approval, 224 to 201, later the same day. President Trump signed the bill into law at the White House on December 22, 2017.
Read the full coverage here
2017 Year-End Tax Planning
Updated: Oct. 19, 2017
Year-end 2017 presents a unique set of challenges for taxpayers. At the top of the list are the uncertainties created by the possibilities within proposed tax reform legislation — what changes might be made, and whether those changes would be retroactive for 2017.
Read the full coverage here
GOP's 2017 Tax Reform Framework
Updated: Sept. 29, 2017
The Trump administration and Congressional GOP leadership have unveiled a tax reform outline, the "Unified Framework for Fixing Our Broken Tax Code." The framework calls for dramatic tax cuts and simplification: lower individual tax rates under a three-bracket structure, nearly doubling the standard deduction, and a significant reduction in the corporate tax rate; along with changing the tax treatment of pass-throughs, expanding child and dependent incentives, and more.
Read the full coverage here
Sharing (Gig) Economy
Updated: Sept. 7, 2017
The sharing, or gig, economy allows individuals and groups to use technology advancements to arrange transactions that generate revenue from their assets, such as cars and homes, or from services they provide, such as household chores, delivery, or technology services. The internet is used to connect suppliers to consumers. The sharing (gig) economy is often used to connect workers and businesses for short-term work. Income received is generally taxable, even if the recipient does not receive a federal Form 1099, W-2, or some other income statement. Depending upon the circumstances, some or all business expenses may be deductible.
Read the full coverage here
ACA Repeal and Replacement
Updated: July 17, 2017
The Senate has released a revised version of its Better Care Reconciliation Act of 2017 (BCRA), but leadership has announced that it will abandon this effort to repeal and replace the Affordable Care Act (ACA). The bill is an amended version of the American Health Care Act (AHCA) (H.R. 1638) approved by the House on May 4 by a vote of 217 to 213. Like the House bill, the Senate bill would repeal the ACA individual and employer mandates, as well as most ACA excise taxes. Unlike the House bill, the revised Senate bill keeps in place the ACA taxes on higher-income individuals. Late in the day on July 17, Senate Majority Leader Mitch McConnell, R-KY, announced that the bill was being pulled from consideration because of the unlikelihood of passage.
Read the full coverage here
Administration's 2017 Tax Reform Outline
Updated: May 25, 2017
President Trump on April 26 unveiled his tax reform outline — the "2017 Tax Reform for Economic Growth and American Jobs." The administration also released on May 23, 2017 President Trump's proposed Fiscal Year (FY) 2018 Budget — "A New Foundation For American Greatness" — which contains additional information on some of the tax reform proposals in addition to large reductions in entitlement spending and increases to expenditures on border security and defense.
Read the full coverage here
2017 POST-FILING SEASON UPDATE
Updated: April 4, 2017
The individual filing season has ended with few reports of disruptions or slowdowns in return processing by the IRS. Some early filers experienced delayed refunds due to new requirements under the Protecting Americans from Tax Hikes Act of 2015 (PATH Act) which kicked-in for this filing season. The IRS reported no major breaches of its primary systems by cybercriminals, although one secondary system, the Data Retrieval Tool (DRT), appeared to have been compromised.
Read the full coverage here
Legislation Archives
Date
Legislation
Nov. 9, 2016
Sept. 16, 2016
Aug. 29, 2016
Aug. 12, 2016
April 20, 2016
Feb. 11, 2016
CCH® Publications
