Construction Contractors Can Benefit From Tax Reform Changes to Long-Term Contracts Exception

February 2018 The 2017 Tax Cuts and Jobs Act is the most comprehensive reform to the U.S. tax code in more than 30 years. As taxpayers sort out the changes, construction company contractors should take notice of a very positive change in the tax reform package—the increase in the gross receipts limit to qualify for the small construction contract exception to the percentage of completion method (PCM) by $15 million. The following provides information on what has changed and who can benefit. View the full article here.