Tag Archives: Tax reform

After tax reform, many corporations will pay blended tax rate

IRS NewsBy Fernando Evangelista November 7, 2018

Last year’s tax reform legislation replaced the graduated corporate tax structure with a flat 21 percent corporate tax rate. This new maximum tax rate for corporations is effective for tax years beginning after Dec. 31, 2017. A corporation with a fiscal year that includes Jan. 1, 2018, will pay federal income tax using what is…

IRS issue proposed regulations on new Opportunity Zone tax incentive

UncategorizedBy Fernando Evangelista October 23, 2018

The Treasury Department and the Internal Revenue Service today issued proposed regulations and other published guidance for the new Opportunity Zone tax incentive. Opportunity Zones, created by the 2017 Tax Cuts and Jobs Act, were designed to spur investment in distressed communities throughout the country through tax benefits. Under a nomination process completed in June,…

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