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Articles

SEC permits reasonable estimates in corporate tax reporting
Companies that are having trouble accounting for the effects of the recently enacted Tax Cuts and Jobs Act, P.L. 115-97, can report reasonable estimates for those effects in their financial statements for the reporting period in which the law was...
Trump signs the massive GOP tax bill into law
President Donald Trump enacted the Republican tax bill on Friday before departing the White House for his Mar-a-Lago estate in Palm Beach, Florida.
CT News Junkie: Connecticut Lawmakers Brace Themselves For Revenue Estimates
Connecticut lawmakers are trying to find the silver lining in the tax package passed by Congress and signed by President Donald Trump before Christmas.
IRS Advisory: Prepaid Real Property Taxes May Be Deductible in 2017 if Assessed and Paid in 2017
The Internal Revenue Service advised tax professionals and taxpayers today that pre-paying 2018 state and local real property taxes in 2017 may be tax deductible under certain circumstances. The IRS has received a number of questions from the tax...
Congress Passes Tax Reform
The House of Representatives passed H.R. 1, known as the Tax Cuts and Jobs Act, a second time on Wednesday, by a vote of 224–201, after procedural objections were raised about the version of the bill the House passed Tuesday afternoon. The bill...
U.S. Tax Reform Reaches Businesses Worldwide
The US Congress passed tax reform legislation Wednesday, approving a bill known as the Tax Cuts and Jobs Act, H.R. 1, that will enact sweeping changes to the US Internal Revenue Code. The bill will now go to President Donald Trump for his...
House Passes Tax Reform
The House of Representatives voted on Tuesday afternoon to pass the Tax Cuts and Jobs Act, H.R. 1, by a vote of 227–203, with 227 Republicans voting yea and 191 Democrats and 12 Republicans voting no. The version of the bill the House voted on...
How tax overhaul would change business taxes
The tax reform bill that Congress is expected to vote on this week contains numerous changes that will affect businesses large and small. The Tax Cuts and Jobs Act, H.R. 1, would make sweeping modifications to the Internal Revenue Code, including...
What the tax reform bill means for individuals
The Tax Cuts and Jobs Act, H.R. 1, agreed to by a congressional conference committee on Friday and expected to be voted on by both houses of Congress during the week of Dec. 18, contains a large number of provisions that would affect individual...
CT Mirror: Federal tax changes could create misleading budget 'bubble' in CT
Most Americans wouldn't feel the effects of proposed federal tax changes until the spring of 2019. But it could throw a big wrench into Connecticut's state budget right in the coming weeks.

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