Tax Reform Basics for Individuals and Families 2018
Overview of the Tax Cuts and Jobs Act
Major tax reform that affects both individuals and businesses was enacted in December 2017. It’s commonly referred to as the Tax Cuts and Jobs Act, TCJA or tax reform.
The publication Tax Reform Basics for Individuals and Families 2018 covers some of the provisions of the TCJA. It provides information for you and your family to help you understand, take action - if necessary - and comply with your federal tax return filing requirements. It is not intended to replace or supersede IRS tax forms, instructions or other official guidance.
The official IRS.gov website includes a Tax Reform page that highlights what you need to know about the tax law changes. This page also provides links to news releases, publications, notices, and legal guidance related to the legislation.
IRS.gov/getready has information about steps you can take now to get a jump on next year’s taxes including how the new tax law may affect you.