As Tax Season Kicks Off, Here's What's New On Your 2017 Tax Return - News Summed Up

As Tax Season Kicks Off, Here's What's New On Your 2017 Tax Return


But with tax season for the 2017 tax year just around the corner, taxpayers want to know what's new for 2017. Here's what you need to know about changes to your 2017 tax returns (the one you'll be filing beginning on Monday):Do I have to file a federal income tax return? Again, while these take effect in 2018, they do not affect your 2017 tax return due in 2018. The standard deduction does not double until the 2018 tax year, and the personal exemption amounts don't disappear until the 2018 tax year. Again, the medical expenses provision is effective retroactively to the beginning of this year so you'll see this change on your 2017 tax return.


Source: Forbes January 27, 2018 19:07 UTC



Loading...
Loading...
  

Loading...

                           
/* -------------------------- overlay advertisemnt -------------------------- */