Tax reform

The Internal Revenue Service said it is working on developing withholding guidance to implement the tax reform bill signed into law on December 22.

President Trump boasted about his tax knowledge during an impromptu interview with The New York Times in which he claimed to know taxes “better than the greatest CPA.”

Goldman Sachs Group Inc. said the U.S. tax reform will cut profit this year by about $5 billion, mainly because of a tax targeting earnings held abroad.

A provision in the new tax law, intended to prevent American companies from shifting profits abroad to benefit from a lower overseas rate, might also hit the largest foreign banks with significant U.S. operations.

Local jurisdictions in high-tax states are grappling with changes from the tax reform act.

But many 2018 taxes have already been levied, experts say.

A look at the major developments from the past year.

Lower corporate tax rates will lead to some very interesting financial reporting.

S-corp boom; cash management to-dos; how to spend the season before the season; and other highlights from our favorite tax bloggers.

Not every jurisdiction is ready to accept prepayments.