The Tax Cuts and Jobs Act of 2017 made some of the most significant changes to the income tax provisions of the U.S. tax code since the Tax Reform Act of 1986. While some of the changes are permanent, a lot of the changes are only effective for tax years 2018 – 2025 unless Congress takes further action.
Below is a summary of the highlights that will be most impactful on individual and fiduciary income tax planning in 2018.
Tax rate and bracket changes
