
One of the most extensive tax code overhauls in decades is now law. Below is a brief outline of some of the major changes you may see on your Form 1040 for 2018 due to this tax reform (remember these changes have almost no impact on your 2017 return): Income Tax Rates and Brackets: The number of income tax brackets remains steady at seven, although some income shifted into lower brackets. Click here for a breakdown of the new brackets. Below are a few examples of how the tax reform would impact your 2018 return: For example, for a married…
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