The IRS Restructuring and Reform Act of 1998

Although entitled the IRS Restructuring and Reform Act of 1998, it is the act's provisions unrelated to IRS restructuring that will have the most significant impact on the majority of taxpayers. Many of the technical provisions listed in the Reform Act of 1998 will have a tremendous impact on t...

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Bibliographic Details
Published in:Supply House Times 1999-10, Vol.42 (8), p.49
Main Author: Basi, Bart A
Format: Article
Language:English
Subjects:
Alternative minimum tax
Capital assets
Capital gains
Employees
Generation skipping tax
Income taxes
Legislation
Partnership interest
Provisions
Reforms
Small business
Tax legislation
Tax planning
Tax rates
Tax reform
Taxpayers
Transfer taxes
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Summary:Although entitled the IRS Restructuring and Reform Act of 1998, it is the act's provisions unrelated to IRS restructuring that will have the most significant impact on the majority of taxpayers. Many of the technical provisions listed in the Reform Act of 1998 will have a tremendous impact on tax planning. The major provisions of TRA 1997 that were modified by the Reform Act of 1998 include the child tax credit, education incentives, individual retirement accounts, capital gains, estate and gift taxes, and the alternative minimum tax. Changes affecting individuals, estate and gift tax changes, and business and investment changes are discussed.
ISSN:0039-5935
1937-4445