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. They will provide information and guidance to taxpayers, businesses and the tax community as it becomes available. Check this page for updates and resources.
For more information, click on the following link: https://www.irs.gov/newsroom/tax-reform