IRS Tax Reform Tax Tip 2018-132, August 23, 2018
With an updated tax reform section and frequent updates, the IRS website should be the first stop for taxpayers looking for information about how tax reform legislation ¨C the Tax Cuts and Jobs Act ¨C affects their taxes. Here are some facts about these new easy-to-read, easy-to-use pages and what taxpayers can find on them:
- The IRS.gov/taxreform page features three sections -- one for each type of taxpayer:
- The Individuals page shares information about:
- Withholding ¨C How the IRS Withholding Calculator can help taxpayers perform a ¡°Paycheck Checkup.¡±
- Credits ¨C Changes to the child tax credit, additional child tax credit, and information about the new credit for other dependents.
- Deductions ¨C The law changed standard and itemized deductions.
- U.S. Armed Forces members ¨C Tax reform updates about combat zone benefits and moving expenses.
- The Businesses page is for businesses of any size. It includes links to these topics:
- Income ¨C including gains and losses
- Deductions and depreciation
- Credits
- International
- Taxes
- The Tax Exempt and Government Entities page highlights how the law affects retirement plans, charities and governments.
- From the left side of IRS.gov/taxreform, users can also find direct links to:
- News ¨C Quick access to tax reform news releases and fact sheets.
- Guidance ¨C Revenue procedures and rulings, regulations and notices.
- Forms and Instructions ¨C Users can search for the latest version of documents they need.
- Resources ¨C Products and tools that employers and other organizations can use to help educate taxpayers about tax reform. Products include FAQs, drop-in articles, videos, publications and tax reform tax tips.
Users can get to the tax reform section of the IRS web page by:
- Clicking the tax reform link from the IRS.gov or Newsroom.
- Entering IRS.gov/taxreform in their web browser address bar.
- Searching tax reform from any IRS web page.
- Tax Professionals can find a Tax Reform link in the Tax Pros area on IRS.gov.