The Tax Cuts and Jobs Act became Public Law No. 115-97 on December 23, 2017 when it was signed into law by President Trump. The Act amends the Internal Revenue Code of 1986 and is biggest change to US tax law since the 1986 law was passed. The Act makes substantial changes to tax law for both individual and corporations. Allison & Mosby-Scott has prepared this summary to help our clients understand the changes in the Act that impact our clients. If you have any questions on how this affects your business or you personally, please call the attorneys at Allison & Mosby-Scott at 309-662-5084.
