A review of the new tax law: What lenders should know
Abstract: The Tax Cuts and Jobs Act (TCJA) passed in late 2017 with significant implications for businesses. Lenders need to be aware of these changes and understand the potential ramifications for their borrowers — both positive and negative — so that they can help customers take full advantage of any new tax breaks and minimize the adverse effects of provisions that will generate additional revenue for the IRS. This article provides a review of some of the most relevant provisions. A sidebar lists several additional business-related tax changes borrowers may want to consider.