Here's who's winning under Trump's tax law - News Summed Up

Here's who's winning under Trump's tax law


(CNN) Tax day isn't until Monday, but there have already been some surprises for Americans filing their first income tax returns under President Donald Trump's 2017 law. Trump is presumably among these, although it's impossible to know since he has kept his tax returns from public view. Filers in these high tax states averaged some of the largest tax cuts. Losing: People who thought a tax cut would mean a bigger refundAccording to preliminary 2018 tax filing season data from H&R Block , one of the nation's largest tax preparers, the average tax filing they've processed so far shows a 24.9% drop in tax liability. It is also seeing the smallest decrease in average tax liability, 18% -- which is indeed a cut, but the smallest, on average, in the country.


Source: CNN April 13, 2019 12:11 UTC



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