What the New Tax Bill Means for You

This piece has been updated to reflect the final version of the tax bill. president trump signed a long-awaited tax bill into law on December 22nd, a few days after it passed the Senate 51-48.

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If you’re really a planner, note that currently this rule expires on Jan. 1, 2026, although who knows what might happen to it by that time. But if you moved in 2017, be sure to talk to your accountant or tax preparer about whether you are eligible for the deduction, as this new law didn’t kick in until the 2018 tax year. 2.

What the New Tax Bill Means for You The enactment of the Tax Cuts and Jobs Act represents "the most sweeping overhaul of the U.S. tax code in more than 30 years." 1 For millions of Americans and businesses it means an altered financial and investment landscape with new opportunities and challenges in the years ahead.

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What the New Tax Bill Means for You The enactment of the Tax Cuts and Jobs Act represents "the most sweeping overhaul of the U.S. tax code in more than 30 years." 1 For millions of Americans and businesses it means an altered financial and investment landscape with new opportunities and challenges in the years ahead.

That said, many folks are wondering what’s in the bill and how it might affect them. Here’s a recap of some of the major tax provisions in the new tax bill and how they may impact you. Lower Tax Rates and Changed Income Ranges. The bill retains the seven tax brackets found in current law, but lowers a number of the tax rates.

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After months of internal debate among Republicans, the House Ways and Means Committee released the details of its plan to overhaul the U.S. tax code. Here is a look at all of the details.

The new bill would limit to $10,000 the amount of state and local taxes, including property taxes, that can be deducted annually.

The New York Legislature. would change that. The bill would allow the state’s tax commissioner to release a resident’s returns in response to a request from any of three congressional committees:.

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