IRS Announces 2018 Tax Rates, and Standard Deductions
The Internal Revenue Service (IRS) has (finally) announced a number of tax-related provisions for 2018, including, of course, the latest tax tables. These changes are due to the Tax Jobs and Cuts Act of 2017, signed into law by President Trump on December 22, 2017.
These are the numbers for the tax year 2018 beginning January 1, 2018. They are not the numbers and tables that you’ll use to prepare your 2017 tax returns in 2018 (you’ll find them here). You’ll use these numbers below to prepare your 2018 tax returns in 2019.