Fairness or Folly: A "Real World" Guide to the Temporary Tax Reform of the Tax Cuts and Jobs Act

Fairness or Folly is a "real world" guide to the highlights of the temporary tax reform of the Tax Cuts and Jobs Act. "The hardest thing in the world to understand is the income tax," according to Albert Einstein. Congress passes laws that are effective this year, but not next; laws that are effective the first Tuesday in February, but expire the third Thursday in November. It's maddening! It's impossible for the average person to keep up, much less comprehend all the temporary changes in the Tax Cuts and Jobs Act. This sweeping tax reform law has dramatically changed the tax landscape. It is without a doubt the most comprehensive tax overhaul the U.S. has seen in over three decades. The Republicans bill it as creating fairness among taxpayers, while the Democrats decry it as folly.