The IRS issued the standard mileage rates for business, medical and moving expenses incurred in 2018.
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A 2017 federal tax deduction for prepaying anticipated 2018 state income taxes? Not likely!
In anticipation of the possible elimination or reduction of the state and local income tax deduction, some are suggesting that taxpayers should prepay their 2018 state taxes in 2017. Here’s why that probably won’t work.
Senate passes tax reform bill
In the early hours of Saturday morning, the U.S. Senate passed its version of the Tax Cuts and Jobs Act bill by a vote of 51–49.
Social Security Administration announces small increase in 2018 wage base
The SSA said that the maximum amount of wages subject to the 6.2% Social Security tax in 2018 will rise a little more than 1%, after a much larger increase last year.
Senate tax reform bill contains more changes
The version of the tax reform bill passed by the Senate Finance Committee holds several more changes affecting both individuals and businesses.
House passes tax reform bill
The U.S. House of Representatives passed the Tax Cuts and Jobs Act bill, H.R. 1, by a vote of 227–205.
Senate Finance Committee modifies tax reform proposal
The revised chairman’s mark of the Senate tax reform bill contains many significant changes to the proposed legislation.
House Ways and Means approves amended Tax Cuts and Jobs bill
The committee voted to send an amended version of the Tax Cuts and Jobs tax reform bill to the full House.
Senate tax reform bill differs from House version in many ways
Differences include tax rates, treatment of various deductions and a delay in the reduction of the corporate tax rate.
Foreign income provisions in the Tax Cuts and Jobs Act
The House’s tax reform bill would make many changes to the taxation of US companies’ foreign subsidiaries.
House bill features many business tax changes
The House tax reform bill contains a large number of proposed changes that would affect businesses.
What the House tax bill holds for individuals
From new tax rates to fewer deductions, credits, and exclusions, the tax reform bill released by the House would have wide-ranging effects on the taxation of individuals.
Details of tax reform legislation revealed
The Tax Cuts and Jobs Act released by the House Ways and Means Committee incorporates many of the provisions listed in the Republicans’ September tax reform framework while providing new details.
E-filing for 2016 individual returns will shut down soon
The news especially affects taxpayers in recent disaster areas who have received extensions until Jan. 31, 2018, to file their 2016 returns.
IRS announces delay in re-launching e-Services
The IRS had planned to launch by the end of the month its updated Secure Access site, which will require using a two-factor authentication process.
David Kautter to be named acting IRS commissioner
President Donald Trump plans to name David Kautter as acting IRS commissioner when John Koskinen’s term expires in November.
IRS issues 2018 inflation-adjusted tax tables and many other tax provisions
The IRS issued the annual revenue procedure that updates the almost 60 tax provisions that must be adjusted for inflation each year.
2018 pension plan contribution limits are announced
The IRS released the inflation-adjusted amounts that apply to pension and 401(k) plans for 2018.
IRS will enforce health coverage reporting on 2017 returns
This filing season will be the first time the IRS has enforced this requirement and will not accept tax returns that omit this information.
IRS permits partnership basis election without partner’s signature
To ease the regulatory burden on partnerships, the IRS announced that it is eliminating the requirement that partnership elections under Sec. 754 be signed by a partner.
INDIVIDUALS
Current Developments in Taxation of Individuals: Part 1
This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending October 2025.
