Pub. L. 115-97, informally known as the Tax Cuts and Jobs Act (the "Act") was recently signed into law. The Act makes numerous far-reaching changes to the Internal Revenue Code of 1986 (as amended, the “Code”). The changes affecting individuals are generally effective for tax years beginning after December 31, 2017 and before January 1, 2026.
By Irving G. Finkel on January 16, 2018