How Taxpayers Are Affected by the Tax Cuts and Jobs Act
January 21, 2018
The recently passed Tax Cuts and Jobs Act has raised questions for many taxpayers. We know that all taxpayers will be impacted by the new tax law—individuals, corporations, partnerships, other “pass through businesses, and even tax-exempt organizations. How taxpayers will be impacted, however, will depend on their individual tax situations.
H&R Block’s center of tax expertise, The Tax Institute, is analyzing the new tax law and providing insights and clarification on how the changes will impact taxpayers. Here are The Tax Institute’s insights on changes to education-related tax benefits, the child tax credit, and itemized deductions:
- Changes to Education with Tax Reform
- The New Child Tax Credit
- Changes to Itemized Deductions Under Tax Reform Bill
Keep checking H&R Policy Perspectives for more analyses of tax reform, including its impact to expatriates, homeowners, medical deductions, moving expenses, tax withholding and more.