Impact of New Federal Tax Reform
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Impact of New Federal Tax Reform

by Zenia Bahel | Jan 09, 2018

Are you wondering how the tax reform bill will impact you and your family? After the recent passing of the bill, many of our members are thinking just that. You'll see some of the impact in a couple of weeks, likely by February. The most obvious change will be in your take-home income. Because the income tax rates will be lower, employers will take out less money from many workers' paychecks. So many Americans will see their take-home pay rise. Other changes won't affect you until you file your 2018 taxes, which are due in April 2019. That is, your 2017 income is and was taxed under the current law, so when you file your returns by April next year, it's the law in effect now that will govern your filing.

View a full recap of the bill here.