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Category Archives: Tax Updates

The Tax Cuts and Jobs Act: Final Legislation

On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act cutting corporate tax rates from 35% to 21% and dropping the top individual rate from 39.6% to 37%. This is the first tax overhaul in more than 30 years, which went into effect January 1, 2018. The overhaul cuts income tax rates, […]

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Proposed Tax Reform Legislation: Tax Cuts and Jobs Act

By now most of you know that the proposed tax reform legislation is underway. On November 16 2017, the House of Representatives passed its version – HR 1: The Tax Cuts and Jobs Act. Also on November 16, the Senate Finance Committee approved its amendments. Next week we should see the full Senate’s vote. Once […]

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FBAR’s Now Due April 15

New Due Date for FBAR The new annual due date for filing Reports of Foreign Bank and Financial Accounts (FBAR) for foreign financial accounts is April 15. This date change was mandated by the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, Public Law 114-41 (the “Act”). Specifically, section 2006(b)(11) of the […]

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