The Tax Cuts and Jobs Act is the most significant tax legislation in over 30 years. Below are some of the significant changes. 

- TAX RATES 2019 -

Individuals:

10%  Up to $9,700

12%  $9,701 to $39,475

22%  $39,476 to 84,200

24%  $84,201 to $160,725

32%  $160,726 to $204,100

35%  $204,100 - $510,300

37%  Over $510,300

Married Filing Jointly:

10%  Up to $19,400

12%  $19,401 to $78,950

22%  $78,951 to $168,400

24%  $168,401 to $321,450

32%  $321,451 to $408,200

35%  $408,201 - $612,350

37%  Over $612,350

STANDARD DEDUCTION INCREASES:

Individuals & MFS:

2019 - $12,200

2018 - $12,000

2017 - $6,500

Married Filing Jointly:

2019 - $24,400

2018 - $24,000

2017 - $13,000

Head of Household:

2019 - $18,350

2018 - $18,000

2017 - $9,550

CONSUMER ALERTS ON TAX SCAMS:

Note the IRS will NEVER:

  • Call to demand immediate payment using a specific payment method such as a prepaid debit card, gift card or wire transfer. Generally, the IRS will first mail you a bill if you owe any taxes. 

  • Threaten to immediately ring in local police or other law-enforcement groups to have you arrested for not paying. 

  • Demand that you pay taxes without giving you the opportunity to question or appeal the amount they say you owe. 

  • Ask for credit or debit card numbers over the phone. 

© 2023 by Name of Site. Proudly created with Wix.com

Follow us:

  • LinkedIn Social Icon
  • Facebook Social Icon