Stay up to date with the latest developments in tax reform by listening to our featured video. Learn what is going on in Washington that may impact you and your clients, and what to expect with potential tax law changes. We will update our featured video frequently so you'll have the latest insight at your fingertips.

Additional Videos

  • Meals, Entertainment & Transportation Fringe Benefits, April 4, 2018
  • Tax Reform Update, Feb. 5, 2018 
  • Tax Policy & Advocacy Efforts After Tax Reform Enacted, Jan. 10, 2018
  • Tax Reform Bill Approved by Congress, Dec. 21, 2017
  • GOP Tax Reform Bill, Dec. 18, 2017
  • Tax Reform Update, Dec. 4, 2017
  • Tax Reform Update, Nov. 16, 2017
  • Tax Cuts & Jobs Act – Senate Version, Nov. 10, 2017
  • Tax Cuts & Jobs Act, Nov. 3, 2017
  • Overview of the Republican Framework, Sept. 28, 2017
  • Tax Reform Update, July 26, 2017
  • Tax Reform: Then and Now, Parts 1-3, July 14, 2017
  • Tax Reform Update, April 26, 2017
  • Tax Reform Update, April 5, 2017
  • Tax Reform Update, March 2, 2017
  • AICPA Tax Reform Advocacy Efforts, March 2, 2017 
  • How to Get Your Clients Prepared for Tax Reform, Feb. 27, 2017 
  • Tax Reform Update, Feb. 8, 2017 
  • Tax Reform Update, Jan. 12, 2017  

The AICPA is committed to being your home for all guidance and resources related to tax reform. Below are a variety of resources and other tools to keep you informed.

Guides, Tools, and Templates

  • Sec. 199A Flowchart: Use this flowchart for determining the Sec. 199A qualified business income deduction.
  • Tax Reform Changes Chart for Individuals and Businesses: Use these charts as a reference for the individual and business tax changes that resulted from the Tax Cuts and Jobs Act as well as practitioner tips for client considerations based on the changes.  This resource is available to Tax Section and PCPS members.
  • Tax Reform Snapshot for Clients: With this brochure, communicate the recent tax law changes to your clients and encourage them to contact you for tax planning help. This resource is available to Tax Section, PPF Section, and PCPS members.
  • Presentations on Tax Reform Updates for Individuals and Businesses: Use these presentations to add value to your client communications by highlighting key points of the new tax legislation. This resource is open to everyone.

Video and Webcast Archives

Podcasts

External Resources

  • H.R. 1 – An Act to provide for reconciliation pursuant to titles II and IV of the concurrent resolution on the budget for fiscal year 2018 (Text and PDF), Dec. 22, 2017: The final enrolled bill became Public Law No. 115-97.
  • Joint Explanatory Statement of the Committee of Conference, Dec. 18, 2017: Learn more about the differences between the House bill, the Senate amendment, and the substitute agreed to in conference.

Read up-to-the-minute news articles and blogs published in the Journal of Accountancy, The Tax Adviser, AICPA Insights Blog, Tax Section Newsletter and The CPA Advocate — AICPA's premier publications that provide superior content for today's CPA.

News Articles

IRS guidance addresses limitations on business interest expense, The Tax Adviser, April 3, 2018
The IRS has issued initial guidance on the new rules governing the deductibility of business interest in Sec. 163(j), as amended by the Tax Cuts and Jobs Act of 2017.

The Sec. 199A qualified business income deduction and fiscal years, The Tax Adviser, March 15, 2018
Taxpayers who receive income from fiscal-year passthrough entities need guidance on when to claim the new Sec. 199A deduction for qualified business income.

IRS issues new tax rate tables, inflation adjustments for 2018, The Tax Adviser, March 5, 2018
The IRS announced the new lower tax brackets for 2018 and a number of other new items affected by P.L. 115-97, known as the Tax Cuts and Jobs Act.

IRS releases updated withholding calculator and 2018 Form W-4, The Tax Adviser, March 1, 2018
The IRS has completed updating its online withholding calculator that individual taxpayers can use to determine how many withholding allowances they should claim for 2018.

Switching to a C corp? Think twice about it, AICPA Insights, Feb. 26, 2018
Given the lower corporate tax rate, it might be better for CPA firms to organize as C corps instead of pass-throughs. This reasoning requires treading with extreme caution.

Forensic and valuation pros: 4 ways tax reform affects you, AICPA Insights, Feb. 26, 2018
Tax reform affects more than just taxes. It has lasting implication for all CPAs and introduces some uncertainty for financial forensics and business valuation.

Planning for individual clients this tax season, Tax Section Newsletter, Feb. 23, 2018
Our profession is in a time of transformation. Recent changes in tax law, rapid technology innovations, and evolving client expectations serve to challenge our "SALY" way of operating.

Bipartisan Budget Act contains several tax provisions, The Tax Adviser, Feb. 9, 2018
The Bipartisan Budget Act of 2018 has many tax provisions, including retroactive extensions of a number of tax credits.

The AICPA and the ongoing tax reform process, Journal of Accountancy, Feb. 7, 2018
In this Q&A, AICPA policy experts discuss advocacy efforts before passage, implementation challenges and members' role in advocating for guidance and technical corrections.

IRS announces 2018 pension contribution limits under tax reform act, The Tax Adviser, Feb. 6, 2018
The IRS revealed that the recalculated 2018 pension contribution limits are unchanged from the numbers issued before the tax reform bill was enacted.

IRS issues more guidance on withholding rules for new tax law, The Tax Adviser, Jan. 29, 2018
The IRS issued Notice 2018-14 to provide more guidance on the withholding rules that were changed by P.L. 115-97, known as the Tax Cuts and Jobs Act.

Practitioners need immediate guidance on tax reform act, AICPA says, The Tax Adviser, Jan. 29, 2018
Thirty-nine areas in the recent tax overhaul act require immediate guidance, the AICPA told the IRS and Treasury.

Q&A on tax reform, Tax Section Newsletter, Jan. 26, 2018
Don Zidik, Director of Tax & Business at Marcum, LLP and Chair of the AICPA’s Individual and Self-Employed Technical Resource Panel sheds some light on the changes coming to tax.

Government funding bill postpones some health care taxes, The Tax Adviser, Jan. 23, 2018
The continuing resolution to fund the government through Feb. 8 also delays the so-called Cadillac tax on high-cost health plans for an additional two years beyond 2019.

What to expect from the IRS during the government shutdown, The Tax Adviser, Jan. 20, 2018
The shutdown of the federal government comes just nine days before the scheduled start of tax season. Here’s a look at how the IRS may be affected.

FASB proposes corporate reporting change related to new tax law, The Tax Adviser, Jan. 18, 2018
FASB proposed a new standard that is intended to help organizations reclassify certain income effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act.

New tax withholding tables are issued, The Tax Adviser, Jan. 11, 2018
The IRS issued new tax withholding tables for 2018 to be used to implement the changes to the tax law enacted last month.

FASB addresses financial reporting impacts of new tax law, The Tax Adviser, Jan. 10, 2018
FASB addressed numerous financial reporting implications of P.L. 115-97, known as the Tax Cuts and Jobs Act.

Next step for tax reform: Busy season, AICPA Insights, Jan. 4, 2018
As busy season approaches, it’s important that CPAs are aware of how this bill affects their clients.

SEC permits reasonable estimates in corporate tax reporting, The Tax Adviser, Jan. 2, 2018
Companies may initially have difficulty determining the effects of the new federal tax law on their income tax reporting.

Congress passes tax package; AICPA sees pros and cons, CPA Advocate Newsletter, Dec. 21, 2017
Congress approves the most significant rewrite of the nation’s tax code in more than three decades.

President signs tax overhaul into law, The Tax Adviser, Dec. 20, 2017
President Donald Trump signed H.R. 1, the Tax Cuts and Jobs Act legislation, thereby making it law.

Congress passes tax reform, The Tax Adviser, Dec. 20, 2017
The House of Representatives reapproved tax reform legislation on Wednesday, sending the bill to President Donald Trump for his signature.

Senate passes tax reform bill; House must revote, The Tax Adviser, Dec. 20, 2017
The Senate voted early today in favor of the Tax Cuts and Jobs Act, H.R. 1, which the House of Representatives had approved Tuesday.

What the tax reform bill means for individuals, The Tax Adviser, Dec. 17, 2017
The tax reform legislation that Congress will consider this week contains many provisions affecting individuals—and many changes from both the House and Senate bills.

Conference committee approves tax reform legislation, The Tax Adviser, Dec. 15, 2017
The tax reform legislation that Congress will consider this week contains many provisions affecting individuals—and many changes from both the House and Senate bills.

Tax reform: Steps to implementationAICPA Insights, Dec. 14, 2017
Edward Karl, CPA, CGMA, AICPA Vice President – Taxation discusses the next steps as the tax reform bill moves closer to passage.

A 2017 federal tax deduction for prepaying anticipated 2018 state income taxes? Not likely!The Tax Adviser, Dec. 14, 2017
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 billThe Tax Adviser, Dec. 2, 2017
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.

Senate tax reform bill contains more changesThe Tax Adviser, Nov. 17, 2017
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 Tax Adviser, Nov. 15, 2017
The U.S. House of Representatives passed the Tax Cuts and Jobs Act bill, H.R. 1, by a vote of 227–205.

It's important for CPAs to stay up-to-date with legislative changes, the dynamic political environment, and the profession's tax reform advocacy efforts. Our tax leadership and dedicated AICPA staff are regularly involved in a wide range of tax policy and advocacy activities, including discussions with Congressional offices, Treasury officials, IRS executives, and key stakeholders. Using AICPA’s Principles of Good Tax Policy as our foundation, we also regularly submit comments, including the following submissions that provide valuable suggestions on ways to improve our tax system:

Troy Lewis meets Senate Finance Chair Orrin Hatch
(Left to right): Mary Strong, AICPA Board of Directors member, Alabama Rep. Terri Sewell, and Jeannine Birmingham, Alabama Society of CPAs, discuss role of sound tax principles in tax reform
Annette Nellen testifying at Senate Small Business and Entrepreneurship Committee hearing
Troy Lewis testifying at House Small Business Committee hearing

The AICPA strongly believes in preserving the cash basis method of accounting and has many resources in support of this position.

Take advantage of the latest learning opportunities, including webcasts, conferences, and other CPE opportunities. As areas emerge, you can entrust the AICPA to sponsor superior events to help you remain the premier providers of tax services.

Reviewed April 27, 2018