Documents tagged "The Act"
Found 2 documents with this tag
HOUSE_OVERSIGHT_029438.txt
The Tax Cuts and Jobs Act was signed into law in December 2017 after the House and Senate reconciled their respective tax bills. The legislation includes a variety of provisions affecting individual income taxes, corporate taxation, and pass-through businesses. Individual income tax rates have been reduced for most taxpayers, while many deductions and credits have been modified or eliminated. Additionally, many individual tax changes are temporary, expiring at the end of 2025, while most corporate provisions are permanent. The Act also includes significant changes to estate taxation.
HOUSE_OVERSIGHT_019440.txt
The document discusses a government shutdown in October 2013 that led to legislation being passed and signed into law by President Obama. This legislation included the Consolidated Appropriations Act of 2014, which allocated $1.012 trillion to fund the government through September 30, 2014. The document also mentions that the IRS was allocated $11.289 billion in funding under this act, but it is less than last year's level and continues a downward trend. Additionally, the document notes that the IRS will have new quarterly reporting requirements and must abide by certain directives.