Under the new tax law approved by Congress, the standard deduction is going up and the personal exemption is going away. But these changes won't be visible until your 2019 returns. WASHINGTON—The U.S. government posted the highest surplus on record in April, although the federal deficit over the past several months widened as spending rose along with revenues. Government revenue rose by 12%, or $55 billion, in April from the same period a year earlier, the Treasury Department said Thursday. That brought April’s surplus to $214.3 billion, the largest April surplus on record.

Source: Wall Street Journal May 10, 2018 18:11 UTC