Bloomberg Tax offers guide to new tax law

Bloomberg Tax released its 2018 Tax & Accounting Outlook, focusing on the Tax Cuts and Jobs Act that Congress passed last month.

The special report covers the federal and international tax implications of the new law, along with how states are responding to the new limits on state and local tax deductions. The report also discusses the accounting implications, including the financial reporting for multinational companies. Also included is a roundtable discussion with a group of tax experts from accounting and law firms.

“The new tax law is so massive and has so many unintended consequences that tax practitioners and corporate executives have no choice but to pay attention in 2018,” said Cheryl Saenz, news director for Bloomberg Tax, in a statement. “Our annual outlook, devoted to tax reform, focuses on the areas of greatest impact in the year ahead that resulted from the Tax Cuts and Jobs Act of 2017.”

The report is available here.

U.S. President Donald Trump sits next to a tax-overhaul bill after singing it into law in the Oval Office of the White House in Washington, D.C., U.S., on Friday, Dec. 22, 2017. This week House Republicans passed the most extensive rewrite of the U.S. tax code in more than 30 years, hours after the Senate passed the legislation, handing Trump his first major legislative victory providing a permanent tax cut for corporations and shorter-term relief for individuals. Photographer: Mike Theiler/Pool via Bloomberg
The Tax Cuts and Jobs Act, signed into law.

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