IRS revamps online info on tax reform

The Internal Revenue Service updated the information on its website about the Tax Cuts and Jobs Act to help taxpayers and practitioners better understand tax reform.

The redesigned IRS.gov/taxreform page features three sections for individuals, businesses and tax-exempt entities. The Individuals page includes information about withholding, such as how the IRS Withholding Calculator can help taxpayers perform a “Paycheck Checkup.” The information on tax credits discusses changes to the child tax credit, additional child tax credit, and information about the new credit for other dependents. Information about tax deductions explains how the new tax law changed standard and itemized deductions. For members of the U.S. Armed Forces, the site describes some of the tax reform updates involving combat zone benefits and moving expenses.

The Businesses page is for any size businesses, with links to topics such as income, including gains and losses; deductions and depreciation; credits; and international taxes. The Tax Exempt and Government Entities page describes how the Tax Cuts and Jobs Act affects retirement plans, charities and governments.

From the left side of the IRS.gov/taxreform page, users can find direct links to news, guidance, forms and instructions and other resources. The news link provides quick access to tax reform news releases and fact sheets. The guidance page includes revenue procedures and rulings, regulations and notices. The forms and instructions page lets users search for the latest version of the documents they need. The resources page links to products and tools that employers and other organizations can use to help educate taxpayers about tax reform. The products include FAQs, drop-in articles, videos, publications and tax reform tax tips.

Users can reach the tax reform section of the IRS web page by clicking the tax reform link from the IRS.gov home page or the Newsroom. They can also type IRS.gov/taxreform in their web browser address bar, or search for the term “tax reform” from any IRS web page.

Tax professionals can also find a Tax Reform link from the Tax Pros area on IRS.gov.

Natalia Bratslavsky/Adobe