New Tax Law

As always, when our rulers in Washington attempt to simplify the tax code, they end up making it even more complicated, guaranteeing a lifetime of employment for those of us in the tax practitioner community. Over the next several weeks, I will be discussing various aspects of the new law now that it’s real and not just a figment of political imagination. I will also be updating the tax rate schedules on my website to coincide with the new changes.

In the meantime, there are some good summaries that can be downloaded for free in PDF format:

From CCH – 8 pages

From Congress Joint Committee on Taxation – 15 pages

Thanks go to Tom Herman of the Wall Street Journal for these links. His Wednesday Tax Report column in the Journal has always been a favorite of mine. Amazingly, it’s become even more of a favorite since I subscribed to the online edition of the Journal about a month ago and discovered that his column includes a large assortment of hyperlinks to tax reference materials, many of which I had been unable to locate myself or had to spend a lot of time tracking down. I’m kicking myself for being such a tight-wad and not shelling out the $29 for the online subscription a year ago. I’ve already saved much more than that in time in the past few weeks.

KMK