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Three Bills Form Tax Reform 2.0
On September 13, the House Ways and Means Committee passed three separate bills that will be the cornerstone of what is being referred to as Tax Reform 2.0.
Watch Out for Tax-Related Identity Theft Scams Throughout the Year
With the filing date for 2017 in the rearview mirror for most businesses and individuals, the last thing you want to think about is income taxes. Unfortunately, criminals who commit tax-related identity theft do not work seasonally — they are constantly devising identity theft schemes.
Home Equity Interest Still Deductible for Many
The language of the new tax law led some to believe that interest on all home equity loans, home equity lines of credit and second mortgages was not deductible from 2018 through 2025. In response, the IRS issued a statement clarifying that the interest will remain deductible based on how the proceeds were used and not how the loan is labeled.
How Will the New Tax Legislation Affect Your Estate Plan?
The new tax legislation makes many changes to individual and corporate tax rates, eliminates a host of deductions and credits, enhances other breaks and makes numerous additional changes.