We are pleased to provide you with this 2019 End-Year Tax Letter outlining important guidelines for compliance with federal and state rules of taxation and reporting requirements. Our letter contains useful information regarding some of the more significant changes to the tax code from the Tax Cuts and Jobs Act, passed on December 22, 2017. The year-end letter also contains 2019 and 2020 payroll tax requirements, employee benefits reporting, informational return filing requirements, and other information for tax planning.
Please note that this letter is designed to provide an overview of selected tax rules that we believe to be of interest to our clients. Tax rules are very complex and can be subject to interpretation. There are many special rules and exceptions that have not been addressed here. In addition, the contents of this letter are subject to change as new tax laws are passed. We will do our best to keep you updated as new information becomes available. Please feel free to contact us should you have any questions.