Tax reform

Paychex identifies the main regs, laws and proposals business owners and their advisors should be paying attention to this year.

The eye-popping $38 billion tax bill that Apple Inc. said it plans to pay on its mammoth pile of accumulated foreign earnings will probably hit federal coffers in an eight-year trickle, not a one-time torrent.

Opponents of the new corporate tax cuts were right. Many companies didn’t pay the full rate before the law passed—so they won’t see splashy reductions in 2018, according to their own estimates.

Thomson Reuters has released several resources to help tax and accounting professionals deal with the Tax Cuts and Jobs Act.

The influential Koch political network is urging President Donald Trump to reject a proposal made by the U.S. Chamber of Commerce to increase the federal gas tax to help modernize American roads, bridges and other infrastructure.

President Trump reportedly plans to name Charles Rettig, a California tax attorney, as the next commissioner of the Internal Revenue Service.

New York state lawmakers could punch a $50.6 billion hole in the federal government’s budget by revamping their state income tax.

The short-term spending bill that President Trump signed into law Monday night includes provisions that delay or suspend three taxes mandated by the Affordable Care Act that have not yet taken effect.

The first few months of 2018 are a critical time for tax, legal and accounting advisors to speak with business clients regarding how the new tax law will affect their cash flow.

Dual U.S.-Canadian citizen with private corporations need to pay attention.