2017 was an eventful year in federal tax. Throughout the year, the Trump administration began to make good on campaign promises to reduce government regulations. In addition, 2017 saw some significant guidance from the IRS relating to the gig economy and virtual currency. You can find a recap of all last year’s significant tax events in our 2017 Year-in-Review Special Tax Briefing.
Also, 2017 was notable for developments that didn’t happen; most significant was the failure to repeal and replace the Affordable Care Act. The year was capped with the passage of the Tax Cuts and Jobs Act, the most significant overhaul of the Internal Revenue Code in more than 30 years.
For highlights of these 2017 tax developments, with special emphasis on those that impact 2018 planning and compliance, see Wolters Kluwer’s latest Tax Briefing, 2017 Tax Year-In-Review. To access the Briefing, please click on the following link: Tax Briefing, 2017 Tax Year-In-Review