The Tax Cuts and Jobs Act (TCJA) that was enacted in December 2017 brought many significant changes to business tax rules.
These changes include:
New tax rates
New rules for net operating losses (NOLs)
A repeal of alternative minimum tax (AMT)
A repeal of the Sec. 708(b)(1)(B) rule regarding technical terminations of partnerships
Expansion of eligibility for more favorable accounting methods
And many more
Download this handy chart for a quick reference summary of the changes as well as to