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AND COMMUNITY BANKS
MICHELLE MULLEN DIGS INTO THE WEEDS OF
THE RECENT TAX REFORM LEGISLATION TO DISCERN
HOW IT MIGHT AFFECT YOUR BANK
THE 2017 TAX REFORM ACT commonly re-
ferred to as the Tax Cuts and Jobs Act was signed and en -
acted in late December. The media and tax practitioners
often refer to the legislation as TCJA for short, but in this
article, we simply refer to it as “the act.” It reflects the
most significant tax reform in more than 30 years. While
most of the changes will not impact 2017 tax returns
dramatically, we are working eagerly to learn and under-
stand the key changes to better educate our clients and
proactively implement planning opportunities. Nearly
every industry will have unique benefits or drawbacks
to the changes. The purpose here is to highlight some
of the more significant items that will affect commu -
nity banks—either directly or indirectly—assessing its
impact on the individuals and businesses that you serve.
20 | THE TEXAS INDEPENDENT BANKER
