Tax Cuts and Jobs Act, Conference Report to Accompany H.R. 1

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Categories: Accounting, Books, Business and Money, Economics, Financial, International, Law, Professional, Public Finance, Subjects, Tax Law, Taxation, Teen and Young Adult, Test Preparation

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In this report, you’ll find guidance concerning the tax rate reform legislation for working American taxpayer citizens that file Federal individual tax returns. This report outlines modifications for taxable years 2018 through 2025. Populations covered are married individuals filing joint returns and surviving spouses, head of households, unmarried individuals other than surviving spouses and heads of households, married individuals filing separate returns, estates and trusts, and more. Additionally, you’ll find specific tax rate information and criteria in terms of deductions for qualified business source of revenue, simplification and reform of circle of relatives and individual tax credits including child tax credit and new circle of relatives credit, credit for elderly and permanently disabled, repeal of credit for plug-in electric drive motor vehicles, modification of deduction for home mortgage interest, modifications to the deduction for charitable contributions, reform of American opportunity tax credit and repeal of lifetime learning credit, reforms to discharge of certain student loan indebtness, repeal of deduction for student loan interest and qualified tuition and related expenses, reduction in corporate tax rate, and a lot more.

Adult American citizens required to file Federal source of revenue taxes, small businesses and corporation owners and body of workers, certified public accountants, tax professionals including tax advisors and preparers, payroll body of workers, IRS officials and agents, members of Congress, and charitable organizations is also interested on this legislation. Students pursuing coursework in tax preparation, business accounting, tax advisory, and public finance courses may find this number one source legislation helpful for research papers and testing requirements.

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Tax Cuts and Jobs Act, Conference Report to Accompany H.R. 1

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