Tax Reform Bill to be Signed into Law

The Senate and House both passed the tax reform bill, Tax Cuts and Jobs Act, on December 20, 2017. The bill will move onto the White House where President Trump is expected to sign it into law before Christmas.

One highlight of the bill is the elimination of the Affordable Care Act’s (ACA) individual mandate effective January 1, 2018. Also, the following ACA provisions were rumored to possibly change (with this legislation) but are staying the same for now:

• Cadillac Tax
• Tax treatment of employee contributions to 401(k), 403(b) and 457 plans
• Employer exclusion on employer-provided health care benefits

Continue to follow our blog for the latest ACA updates.