Companies can visit IRS.gov to find out how the tax reform affects your bottom line
Some companies may have questions about how the law affects 2017 tax reform organization and final results. IRS.gov is a great place to find answers. Here are several pages on the website of the IRS that address tax reform. Companies can make these pages and consult them frequently because the IRS the regularly updated with new information.
This is the main business page. Users can link from this page to more resources with additional information, which is organized into sections by topic. These sections include a description in plain language and links to press releases, notices and other technical guidelines. These are some of the main themes of taxes on this page and the highlighted subtopics in each section:
- Income: taxation of foreign income, interest income and similar exchanges
- Deductions and depreciation: fringe benefits, moving expenses, standard mileage rates, deductions for business transfer and handling commercial interests
- Credit: credit employer paid family and medical leave, and rehabilitation tax credit
- Taxes: federal tax combined income and deductions
- Changes in accounting method.
- Opportunity Zones
- This page also includes information for specific industries, such as agriculture, insurance companies and aircraft maintenance services.
From this page, people can be linked to useful products including press releases, tax tips tax reform, revenue procedures, data sheets, FAQs and articles. Organizations can share these materials, including articles with employees, customers and volunteers to help them better understand the tax reform.
This side by side comparison can help companies understand the changes that the new law made the previous law. It will help businesses make decisions and plan. It covers changes to deductions, depreciation, expenses, tax credits and other tax items affecting businesses.