Wolters Kluwer Legal and Regulatory U.S. in January 2018 announced the release of a new white paper: Tax Cuts and Jobs Act Will Present Retirement, Benefits, Executive Compensation and Payroll Professionals with New Challenges in 2018, which examines the impacts of the tax bill recently signed into law by President Trump.

The white paper looks at aspects of the new law, which will affect a wide range of retirement, benefits, and payroll professionals. The law includes the elimination of the individual mandate penalty for the Affordable Care Act, as well as modifications of personal income tax rates, the revised Standard Deduction, and the repeal of Roth IRA re-characterization.

Highlights of the paper include:

• The impact on qualified plans of revised pass-through deductions
• Deferral election for qualified equity grants
• Modification of the $1 million deduction limit on executive compensation
• Limitations on employer deductions for fringe benefits, and
• Suspension of personal exemptions

A complete electronic copy of the white paper is available here.