Author Description

Wolters Kluwer's Tax Cuts and Jobs Act: Regulatory Explanation and Analysis provides tax practitioners with a single integrated reference source of the major guidance issued in the wake of this important legislation. The volume combines explanations of the significant pieces of the Act, updated with the latest IRS guidance on each provision, and includes full text reproductions of final regulations proposed regulations and administrative guidance. The result is a first-of-its-kind single resource that gives practitioners a complete picture of the integration and implementation of the Tax Cuts and Jobs Act. The Tax Cuts and Jobs Act was the single large st piece of tax legislation in over 30 years, with an impact on all taxpayers. The Act imposed massive changes across the entire spectrum of taxpayers, reducing rates on individuals and corporations, creating a new deduction for sole proprietors and owners of passthrough entities, expanding bonus depreciation, limiting the deduction for business interest, and completely changing the way in which international transactions are taxed. The IRS has issued massive amounts of guidance since the Act became law, and understanding the new landscape requires a resource that goes beyond what was just done to the Internal Revenue Code. Book jacket.