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Federal Tax Legislation
Stay informed of important developments in tax legislation. Key items include guidance and new rules involving tax reform, COVID-19 Relief Acts, international taxation and partnerships.
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Federal Tax Legislation CPE
More than ever, this year promises to be one with lots of questions from your clients. Find your way through the uncertainty with numerous CPE courses led by expert instructors, addressing COVID-19 Relief Acts and other federal tax updates.
Recent Legislation
Coronavirus Aide, Relief, and Economic Security (CARES) Act
Updated: March 27, 2020
As COVID-19 continues to upend nearly every aspect of life in the United States,
Congress has been working to relieve suffering Americans. Having passed the
Families First Coronavirus Response Act on March 18 in an effort to limit the
spread of the pandemic and support relief efforts, Congress turned to stabilizing
the economy. After days of furious negotiations between Republicans and
Democrats on the Hill and Trump Administration officials, the Senate passed the
Coronavirus Aid, Relief, and Economic Security (CARES) Act. With a $2.2 trillion
price tag, the bill is the most expensive piece of legislation ever passed.
Read the full coverage here
Coronavirus Tax Relief
Updated: March 23, 2020
As coronavirus (COVID-19) continues to spread, rattling financial markets, forcing the closures of businesses and schools, and canceling major public events across the country, the Trump Administration and Congress began taking steps to mitigate the impact on Americans.
Read the full coverage here
2019 Tax Year-In-Review
Updated: Jan. 30, 2020
Sweeping, bipartisan legislative reforms to retirement security, IRS administration, and the renewal of over 30 temporary tax breaks known as “tax extenders” are just some of the developments that made 2019 another stand-out year in tax policy. Additionally, the IRS issued several packages of proposed and final regulations during the 2019 tax year pertaining to the Tax Cuts and Jobs Act (TCJA) (P.L. 115-97).
Read the full coverage here
Consolidated Appropriation Act, 2020
Updated: Dec. 27, 2019
Just before recessing for the holidays, the House and Senate have passed the Consolidated Appropriations Act, 2020. The new Act averts a government shutdown that would have begun on December 21, 2019. The House passed the bill on December 17, 2019 by a vote of 297 to 120, while the Senate passed the bill on December 19, 2019, by a vote of 71 to 23. The President has indicated his intention to sign the bill into law.
Read the full coverage here
2019 Year-End Tax Planning
Updated: Nov. 7, 2019
Over 2018 and 2019, tax professionals have been grappling with the new landscape of taxation under the Tax Cuts and Jobs Act. Laptop batteries have drained, reams of paper have been used, and eyes have gone dry all across the country in researching ways to help clients maximize their tax savings. As was said last year, many of the old strategies for advising clients at year-end have been blunted by the landmark tax reform act. However, there are still numerous steps to take in late 2019 and early 2020 to boost the refund, or reduce the amount due, on returns filed in 2020. Many of the classic deferral and acceleration tactics can still produce results, but in new and different ways. And there is still time to take care of them, if you act fast!
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2019 Post-Filing Season Update
Updated: April 18, 2019
The week of April 15 marks the end of the filing season for the 2018 tax year. Most individual returns were due on April 15, with some taxpayers in certain parts of the country extended to April 17 due to local holidays. It was an interesting and unique filing season, full of complications and confusion due to tax reform and the federal government shutdown. But, now it's over (or, at least, extended to the fall). Time to take a breath and see what you missed over the last few months. The IRS, Treasury, and the courts have been busy, especially during March, releasing new guidance and issuing opinions that affect the 2019 tax year and beyond.
Read the full coverage here
2018 Tax Year-In-Review
Updated: Jan. 8, 2019
In review of the most significant tax-related developments of 2018, most notable is the year-long and ongoing effort toward tax reform implementation. The Tax Cuts and Jobs Act (TCJA), enacted in late December 2017, was the most sweeping overhaul of the tax code in over thirty years. Nearly every taxpayer is impacted by the new tax law, and practitioners are working to understand its varying impact on both their own professional planning as well as client-specific tax planning and return preparation. Although a large volume of TCJA-related guidance was released by the IRS in 2018, additional tax reform guidance is expected to be unveiled and finalized throughout 2019.
Read the full coverage here
Legislation Archives
Date
Legislation
Nov. 8, 2018
Sept. 14, 2018
Aug. 14, 2018
June 21, 2018
April 26, 2018
Jan. 02, 2018
Dec. 22, 2017
Oct. 19, 2017
Sept. 29, 2017
Sept. 7, 2017
July 17, 2017
May 25, 2017
April 4, 2017
Sept. 16, 2016
Aug. 29, 2016
Aug. 12, 2016
April 20, 2016
Feb. 11, 2016
