On December 20, 2017, Congress passed the most extensive package of reforms to the United States income tax system since the overhaul of the tax code in 1986. Enacting tax reform has been a key priority of the Trump administration and GOP leaders in Congress, and the GOP tax reform bill moved forward at a breakneck pace, with the final tax reform legislation in place less than two months after the first draft of the bill was released by the House Ways and Means Committee, as we wrote about in our recent advisory. The breadth and magnitude of the final version of the tax reform bill, generally referred to as the “Tax Cuts and Jobs Act” (“TCJA”), will impact almost all taxpayers (whether individuals, businesses, trusts or estates). Certain of the most notable changes enacted in TCJA pertaining to individuals, business taxes (corporate and pass-through), international taxes, wealth transfer taxes, changes relating to nonprofit organizations, and implications for 2018 planning and beyond are outlined here.