Congress passed tax reform in December 2017 and a budget deal with tax extenders in February 2018. The budget deal extends some tax provisions that expired in 2016. Thus, they provide some retroactive relief to filers.
These include exclusions from gross income for the discharge of certain residential debt, qualified tuition expenses, energy credits, electric car credits, and many other taxpayer-favorable breaks. There are numerous aspects of tax reform and the extenders that impact the 2017 return, and many opportunities and challenges for taxpayers as they plan for 2018.
This presentation will let you know what you need to discuss with your clients today with respect to the Tax Cuts & Jobs Act and the tax extenders included in the 2018 Bipartisan Budget Act.
Josh Wu advises large corporations, mid-size businesses, startup companies, and high-net-worth individuals on all aspects of federal tax law. He has particular experience with resolving complex IRS audits, administrative appeals, civil tax litigation, offshore trusts and assets, multijurisdictional investigations, and IRS collection matters.
Josh represents clients in an array of tax controversies and tax litigation matters before the Internal Revenue Service (IRS), the U.S. Tax Court, the U.S. Court of Federal Claims, and the U.S. Court of Appeals for the Federal Circuit.
He regularly helps clients respond to IRS information document requests, manage electronic discovery, prepare for interviews with the IRS, and navigate procedural issues.
Prior to joining Clark Hill Strasburger, Josh worked for several international law firms, including Latham & Watkins LLP, and has been quoted in major news outlets such as The Street, Federal Tax Weekly, and Business News Daily.