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.

The estate of Michael Jackson looks to have escaped a possibly hefty penalty for allegedly undervaluing the late singer’s assets.

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.

Now for the clients; ‘the crimes were serious’; the jailed and the dead; and other highlights of recent tax cases.

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

A look at the major developments from the past year.