Tax Cuts and Jobs Act: Difference between revisions
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==External link== | ==External link== | ||
*[https://www.irs.gov/newsroom/tax-cuts-and-jobs-act-a-comparison-for-businesses | *[https://www.irs.gov/newsroom/tax-cuts-and-jobs-act-a-comparison-for-businesses Tax Cuts and Jobs Act - Internal Revenue Service] | ||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Latest revision as of 22:17, 9 March 2022
US tax.
(TCJA).
The Tax Cuts and Jobs Act was signed into US law in December 2017.
It aims to encourage economic growth and bring back jobs and profits to the US from overseas by reducing US corporate income tax rates, creating a territorial tax system, allowing for immediate expensing of certain qualified property and providing other incentives.
The TCJA also includes various tax base broadening provisions, including the elimination of existing tax deductions and anti-tax base erosion provisions.
The formal name of the TCJA is H.R.1 - An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018.
See also
