Tax Reform

Latest Tax Reform News

UPDATE (1/12/18): The Internal Revenue Service has released Notice 1036, which updates the income-tax withholding tables for 2018, reflecting changes made by the tax reform legislation enacted last month. This is the first in a series of steps that IRS will take to help improve the accuracy of withholding following major changes made by the new tax law.

The updated withholding information shows the new rates for employers to use during 2018. Employers should begin using the 2018 withholding tables as soon as possible, but not later than Feb. 15, 2018. They should continue to use the 2017 withholding tables until implementing the 2018 withholding tables.

Learn more about the new withholding tables with these FAQs.

Small business owners can expect tax relief now that reform is a reality. The Tax Cuts and Jobs Act is the biggest tax reform package in more than 30 years. Learn more about key small business provisions in the law.

“NFIB fought for decades for a real tax cut for small business owners. The Tax Cuts and Jobs Act dramatically improves the way small businesses are treated, delivering hundreds of billions of dollars in tax cuts,” said NFIB President and CEO Juanita Duggan in a statement.

More Information

HELPFUL LINKS

Learn more about the conference report.

Read the current Senate bill and a section-by-section summary.

Read the current House bill and a section-by-section summary.

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