Asked by rlaughlin  |  Submitted February 08, 2017

If new tax plans are adopted in 2017, when would they actually be implemented? 2017 or 2018?

Specifically the changes in itemized deductions.

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  Answers  |  1

February 14, 2017

There have been a few times when a tax law was enacted retroactively, but almost always such laws are forward looking. Changes this year to tax laws would almost certainly take effect in 2018 or later.

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