The House and Senate Tax Cuts and Jobs Act Conference Committee unveiled its tax reform package on December 15, 2017. The Committee, after a week of negotiations, blended the House and Senate versions of the Tax Cuts and Jobs Act (H.R.1) into one legislative package. GOP leaders predict that Congress will pass this final version of H.R. 1 before lawmakers leave for their holiday recess. The Conference agreement generally tracks the overall framework for tax reform released by the GOP earlier this year and the House and Senate versions of H.R. 1. This final bill carries a January 1, 2018, effective date for most provisions.
If you have any questions regarding the Tax Cuts and Jobs Act and how it will affect you and/or your business, please do not hesitate to contact your Hertzbach Tax Advisor today at 800.899.3633.