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Income tax & accounting solutions
322 Lanza Ave
Garfield, NJ 07026
(973) 894-3390









Tax Reform

Major tax reform was approved by Congress in the Tax Cuts and Jobs Act (TCJA) on December 22, 2017. The IRS is working on implementing this major tax legislation that will affect both individuals and businesses. We will provide information and guidance to taxpayers, businesses and the tax community as it becomes available. Check this page for updates and resources.
IRS News Releases, Fact Sheets & Statements
Tax bill this year? Check withholding soon, avoid another one next year
More than 2 million ITINs to expire this year; Renew soon to avoid refund delays
IRS offers penalty, filing relief to many subject to new transition tax on foreign earnings
Law change affects moving, mileage and travel expenses
Two-income families, taxpayers working multiple jobs should check withholding amount
IRS issues notice on state and local tax deductions
Taxpayers who usually itemize deductions should check their withholding to avoid tax surprises
Seasonal, Part-year Workers Urged to Check Tax Withholding Amount
IRS highlights sharing economy tax center, other resources during National Small Business Week
For Small Business Week, IRS highlights key business tax topics
New rules and limitations for depreciation and expensing under the Tax Cuts and Jobs Act
Many corporations will pay a blended federal income tax this year under the new tax reform law
Inflation Adjustments Under Recently Enacted Tax Law
Newly-revised estimated tax form and publication can help people pay the right amount
IRS issues guidance on business interest expense limitations
IRS Issues Guidance on Withholding on the Transfer of Partnership Interests by Foreign Persons
IRS urges ‘Paycheck Checkup’ for key groups; tax withholding may need adjustment
IRS Issues Additional Guidance on Transition Tax on Foreign Earnings
IRS Plans to Issue Regulations Clarifying Limitations on Carried Interest
Interest on Home Equity Loans Often Still Deductible Under New Law
IRS Issues Guidance on Changes in Accounting Periods Related to the Transition Tax
IRS Announces 2018 Pension Plan Limitations Not Affected by Tax Cuts and Jobs Act of 2017
Tax Issues for Alaska Native American Corporations and Alaska Native Settlement Trusts
IRS Issues Additional Guidance on Transition Tax on Foreign Earnings
Updated 2018 Withholding Tables Now Available; Taxpayers Could See Paycheck Changes by February
IRS Issues Guidance on Transition Tax on Foreign Earnings
IRS Advisory: Prepaid Real Property Taxes May Be Deductible in 2017 if Assessed and Paid in 2017
IRS Statements: Withholding for 2018
Individuals
Steps to Take Now to Get a Jump on Next Year’s Taxes
Exemption for Amounts Paid for Aircraft Management Services
What’s New – Estate and Gift Tax
Businesses
New Deduction for Qualified Businesses
Effect of Sequestration on the Alternative Minimum Tax Credit for Corporations
Settlement of Attorney’s Fees Related to Sexual Harassment
Tax Exempt
Repeal of Authority to Issue New Clean Renewable Energy Bonds
Government Entities
ABLE Accounts - Tax Benefit for People with Disabilities
State Legislators: Tax Reform Eliminates Deduction for Travel Expenses