This week, the U.S. Senate and House of Representatives passed the Tax Cuts and Jobs Act (the Act), which now heads to the President’s desk for his signature. In addition to significant changes affecting individuals, the Act includes numerous changes that may have important impacts for the operations of both nonprofit and for-profit health care entities. Most provisions are effective for tax years beginning after December 31, 2017. Below is a summary of key provisions. For additional information, please contact the following individuals: Terri Wagner Cammarano or Charles Oppenheim in Los Angeles at 310.551.8111; Katrina Pagonis, Paul Smith or Ben Durie in San Francisco at 415.875.8500; or Alex Brill or Martin Corry in Washington, D.C. at 202.580.7700.
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