Blog Archives: Matt Medlin

On December 22, the President signed the U.S. federal tax bill into law. Therefore, as you prepare your year-end financial statements, you must account for the new law’s impacts to net income in 2017.

Who’s Impacted by the New Law?

The new law significantly impacts corporate tax strategies and cash flows. It will also impact income tax accounting for corporations. Under U.S. GAAP, changes to tax law or tax rates are recognized on the date of enactment. In the U.S., that means the date the new law is signed by the President.

Since the President signed the bill before the end of 2017,

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