Now that the $1.5 trillion tax overhaul has been signed into law, the real fun begins for accountants. They’re scrambling to understand the legislation, which runs more than 1,000 pages and includes fundamental changes to the corporate tax rate, the standard deduction and tax brackets for individual filers. CPAs and tax lawyers around the nation have spent their holidays parsing the bill to figure out how it could help, or hurt, their clients.
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