On December 20, 2017, Congress passed the Tax Cuts and Jobs Act (“An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018”). This legislation, which the President signed into law on Dec. 22, 2017, is the most sweeping tax reform measure in over 30 years. The new legislation makes fundamental changes to the Internal Revenue Code that will upend the way individuals and businesses calculate their federal income tax liability, so as to create numerous planning opportunities. The changes affecting individuals include new tax rates and brackets, an increased standard deduction, elimination of personal exemptions, new limits on itemized deductions (state taxes, mortgage interest), and the repeal of the individual mandate under the Affordable Care Act. The changes affecting businesses include a reduction in the corporate tax rate, increased expensing and bonus depreciation, limits on the deduction for business interest, and a new 20% deduction for pass-through business income. The foreign provisions include an exemption from U.S. tax for certain foreign income and the deemed repatriation of off-shore income. The Complete Analysis of the Tax Cuts and Jobs Acts provides a comprehensive Analysis of all these complicated changes, Client Letters, and an Index to help users find the coverage they need.