How President Trumps Tax Plan Affects You And Whats

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On , President Trump signed the Tax Cuts and Jobs Act. It cuts income tax rates, doubles the standard deduction, and eliminates personal exemptions. The Act keeps the seven income taxckets but lowers tax rates.. - Working poor people could owe no income tax, filing a return could get much simpler, and there would even be a new credit for caring for elderly relatives under a tax "framework" being proposed Wednesday by President Trump and Republican leaders in Congress. The plan cuts the top corporate tax rate . - Update: Many of the tax changes went into effect in January 2018 though they won 't impact the 2017 tayou will file in April 2018 and employees can expect to see changes to their paychecks starting in February 2018. Earlier: President Trump signed the tax bill into law on Dec. 22, 2017. This came . - Your take-home pay could increase slightly if the GOP tax plan is signed into law by President Donald Trump..

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