Latest Tax Updates and News from IRS     2017 Tax Cuts and Jobs Act Bill The Senate passed the Tax Cuts and Jobs Act bill on December 20th 2017 and the President signed the new bill on December 22, 2017.   The tax reform bill contains a large number of provisions that affect individual and business taxpayers, which will expire after 2025.  At that time, if no future Congress acts to extend H.R. 1’s provision, the individual tax provisions would sunset, and the tax law would revert to its current state. PART 1. Provisions in the bill affecting Individuals: Tax rates For tax years 2018 through 2025, the following rates […]