While we are already in the second year following the Tax Cuts and Jobs Act, there are a couple and changes to be aware of when filing taxes this year. A comprehensive list of these updates can be found on the IRS website, however, below is a list of notable changes.
1. Tax Rates and Brackets
Like the tax brackets for 2018, there are seven: 10%, 12%, 22%, 24%, 32%, 35%, and 37%, which have been adjusted for inflation in 2019 below:
