Final Tax Reform Bill Approved by Congress
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On December 20, the final version of the tax reform bill (formerly known as the “Tax Cuts and Jobs Act”) was approved in the House by a vote of 224-201, following passage earlier in the Senate by a vote of 51-48. The final bill, which includes a few changes to employee benefits introduced in earlier versions, is expected to be signed into law by the President in the coming weeks. Most of the provisions in the law take effect for taxable years beginning in 2018.
Click here to view a summary of some of the key domestic provisions outlined in the Tax Reform Bill.
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