[vash]

Hi,

Since the tax bill is passed (i know its not a law yet). I read that even if there is a delay the bill take take effect retrospectively from Jan 2018. I’m preparing for REG and intend to test in July 2018 which is 6 months after the bills effective date. So what effect will this tax bill have on the JULY 2018 exam? I’m confused if i should studying for REG or not. Thank you.

[tncpa2018]

It will be tested 6 months after enactment. So if it’s enacted anytime from now through January 1st, it could possibly be in the Exam beginning the 3Q 2018 testing window.

To be safe, why not try to take the exam on the last week of June which is still the 2Q18 testing window.

[vash]

Thank you for the reply. I'm planning to write reg & aud and keeping in mind my work commitments and all. The earliest i can test is in July 2018. Looks like I'm screwed 😀

[TommyTheCat]

vash – the bill still needs to go through reconciliation to bridge the large gap between the house and senate versions of the bill. That process is likely to alter the proposed legislation pretty significantly, and i would hypothesize if they don't get the whole reconciliation process completed by this friday 12/15 when congress goes on recess for the holidays that the new legislation wont go into effect until 2018 tax year.

[Anonymous]

Just read a news that the GOP reached agreement on this.

Why is it a bad idea for REG exam though? I looks like the tax bracket will be (slightly) simplified, and AMT is gone for corporate. I was kind of looking for this to simplify the REG section a little. Did I miss something?

[Author]

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