The Last Day of our 32-Year-Old Tax Code is TODAY

Apr 17, 2018
Press Release

The Last Day of our 32-Year-Old Tax Code is TODAY

Next year, when you file your taxes, 80% of households are expected to have to pay less!

Some other benefits resulting from the #TaxCutsandJobsAct include;

  • Helps small businesses by allowing them to immediately write off the full cost of new equipment to improve operations and enhance the skills of their workers.
  • Nearly doubling the standard deduction to protect more of what you earn each year from taxes – from $6,500 and $13,000 under current law to $12,000 and $24,000 for individuals and married couples, respectively.
  • Increases the Child Tax Credit from $1,000 to $2,000 for single filers and married couples to help parents.
  • Prevents American jobs, headquarters, and research from moving overseas by eliminating incentives that now reward companies for shifting jobs, profits, and manufacturing plants abroad.

Taxpayers can get help filing their tax return for free through the Volunteer Income Tax Assistance and Tax Counseling for the Elderly programs. To find the site nearest you, you can call 800-906-9887 or visit the https://www.irs.gov/.  There is also a free IRS filing programs that provides taxpayers with multiple brand-name tax preparation products at no cost.