As a former tax professional, I received the notice from the IRS earlier today. Kudos to the IRS for getting this notice out in time to save a lot of people trouble when they go to file their 2017 return in the next couple of months.

Whether you agree or not, the notice is consistent with the rules that have been in place for decades.

I suspect we are going to learn a lot about the new Tax Cuts and Jobs Act in the next few months. Some good, some not so good.

Overeaction can cost you. If it is not billed it is not deductible. Then you have the issue of getting caught in an audit. Many will prepay, deduct and move on becuase they simply won't be caught. Are you a gambler?

I had been checking out the news and reading up on the rule. It appears the 2018 bill has to "assessed" whch some say it has to be billed. Meaning you can prepay but it may not count in the eyes of the IRS if your town.state did not bill it as 2018. I have past buyers calling asking too 

Plenty of confusion about this bill already, and the tea party will be spending much of the year convincing people that they are not losing money on this bill.

No I hadn't read it so thanks for sharing.

I have not Roy Kelley I will read now. thanks

Yes I thought it was a very interesting article....

Thanks for sharing....

I did get the news pushed through on my phone at dinner. I have not had a chance to read it. Thanks for sharing. 

IRS seems to make up their own rules.

I have heard about this on the news channels and since we are not an income tax state or high property tax area, it doesn't affect us locally.

Cause & effect. Count & counter. Rule & exception. The dust will settle

Gee, you have 39 hearings about Benghazi and zero hearings about the tax bill ramrodded through without any due diligence. No one should be surprised.

We had lots of information on the news about which states were allowing pre-paid taxes, but best to check with your CPA.  

I stopped by. Thank you for sharing.

Thank you.

In many states/towns it's just not possible.

I always pay both installments in November.  Did that again this year before there was any talk about "hurry up and pay or it'll count against your 2018 10k limit."  Out here the November one is for July-Dec of the current year and the February one is for January-June of the following year.

I've paid my real estate taxes through Dec 31.... not prepaying...

I noticed a few friends on FB posting they were at the County building paying property taxes .... I had not read the article ... I will take a look now. 

Roy Kelley The IRS will have the final word. Joseph Domino 480-390-6011 makes a good point.

Yes, I heard it on the news today... wasn't planning on paying early in any event.

No, and I have heard that. A

I will take a look.

I have not

According to my cpa friend, the application of tax laws by the irs usually is determined by the briefs released from the committee hearings. Since their were no hearings to confirm the intent behind any of the bills provisions it will be up to the irs to interpret the intentions of the lawmakers. This is going to be a bumpy ride.

No, I did not see the article. I'll probably talk to my cpa about it. Thanks for the link.

And what does John Koskinen have to say about ths? I'm waiting.