On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (the Act), Public Law 119-21. While the Act contains several tax and law changes, this article focuses on the employee benefits provisions within...more
On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (“OBBBA”) into law. The OBBBA is the tax and budget reconciliation package for the current 2025 fiscal year through 2034. While the bill focuses primarily...more
This client alert provides a summary of the major provisions of the new tax bill. To make this extraordinarily complex bill somewhat understandable, we have left off several details and simplified the discussion, so it is...more
When the 2017 Tax Cuts and Jobs Act was passed, significant changes were made to the Federal Estate, Gift and Generation-Skipping Transfer Tax, the most prominent of which is the increased applicable exclusion amount, which...more
On December 22, 2017, President Trump signed into law legislation, known as the Tax Cuts and Jobs Act (“TCJA”), which is the most extensive overhaul of the United States of the Internal Revenue Code (the “Code”) in 30 years....more
The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by the President on December 22, 2017, and represents one of the most significant rewritings of the federal tax code since 1986. ...more
When parents and grandparents (or other generous benefactors) want to transfer wealth to a minor child, the primary decision they will face is whether to set up a Section 529 Plan, a custodial account under the Uniform...more
Based on changes implemented by the Tax Cuts and Jobs Act, this is an update on a previous post written by Eileen Y. Lee Breger in May 2017, “Families Can Use a Tax-Advantaged ABLE Account to Save for Disability Expenses.” ...more
The 2017 tax reform legislation colloquially referred to as the Tax Cuts and Jobs Act (the Act) made some significant changes in the taxation of individuals, and these changes have already begun to generate new planning...more
The new federal tax law, known as The Tax Cuts and Jobs Act, that was approved by Congress and signed into law at the end of 2017, creates a benefit for individuals paying tuition for children in private or religious schools...more
This client alert is part of a special series on the Tax Cuts and Jobs Act and related changes to the tax code, where Blank Rome’s lawyers share their analysis of different provisions in the Act and how they may affect you...more
The Tax Cuts and Jobs Act of 2017 makes substantial changes to the income taxes of individuals. The Act's individual changes noted in the attached chart generally expire on January 1, 2026, and the speculation will...more
The Tax Cuts and Jobs Act, signed into law on December 22, 2017, includes significant changes to the U.S. federal gift, estate, and generation-skipping transfer (GST) tax laws, effective as of January 1, 2018. In addition,...more
On December 22, 2017, the President signed into law H.R. 1, informally known as the “Tax Cuts and Jobs Act” (the “Act”), implementing sweeping changes to United States income tax regimes for individuals and businesses and...more
H.R. 1, better known as The Tax Cuts and Jobs Act of 2017 (the “Act”), passed both the House and Senate earlier this week and was signed by President Trump. Most of the relevant provisions of the Act will be effective for tax...more
On Dec. 19, the Senate parliamentarian ruled that three provisions in the Tax Cuts and Jobs Act violated Senate procedure. These provisions, which were subsequently removed, related to the use of 529 savings accounts for...more
I. INTRODUCTION - This outline is a selective and evolving review of the history of the modern federal estate tax. It originated during the attempts to repeal the estate tax in President Clinton’s second term and...more
NUMBER OF THE WEEK: 1,462. The total number of comments received by the Senate Finance Committee’s five bipartisan tax reform working groups in response to the committee’s request for public input on overhauling the nation’s...more