The Tax Cuts and Jobs Act, a $1.5 trillion tax cut package, was signed into law on December 22, 2017. The centerpiece of the legislation is a permanent reduction of the corporate income tax rate. The corporate rate change and some of the other major provisions that affect businesses and business income are summarized below.
The committee that grades the U.S Tax Court exam consists of a chairperson and two examiners, who are chosen based on their legal testing experience and knowledge of the subject matter. One examiner is in charge of preparing the rules portion and the other the evidence portion. All three grade the exam.