Here are some details about these resources:
This electronic publication covers many of the TCJA provisions that are important for small and medium-sized businesses, their owners, and tax professionals to understand. This concise publication includes sections about:
- Corporate tax provisions
- Qualified business income deduction
- Depreciation: Section 168 and 179 modifications
- Business-related losses, exclusions and deductions
- Business credits
- S corporations
- Farm provisions
New webpage: Tax Reform for Small Business
This one-stop shop highlights important tax reform topics for small businesses. Users can link to several resources, which are grouped by topic:
- New deduction for qualified businesses
- Deductions, depreciation and expensing
- Employer deduction for certain fringe benefits
- Like-kind exchanges
- Real estate rehabilitation tax credit
- Changes in accounting periods and methods of accounting
- Corporate methods of accounting
- Blended federal income tax
- Employer credit for paid family and medical leave
- farmers and ranchers
Taxpayers can get tax tips and news from the IRS through social media platforms too.
The IRS uses social media to share the latest information on:
- tax changes
- scam alerts
- products and services.
- Instagram: Access the new account, IRSNews at https://www.instagram.com/irsnews or the Instagram app.
- YouTube: Features video tips in English, Spanish and American Sign Language.
- Twitter: Follow @IRSnews for tax announcements. @IRStaxpros tweets news for tax professionals. @IRSenEspanol has information in Spanish. @IRStaxsecurity posts scam alerts.
- Facebook. News and information for taxpayers and tax return preparers, also in Spanish.
- LinkedIn. The IRS shares agency updates and job opportunities.
Tax Reform Small Business Initiative
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