How The Tax Cuts and Jobs Act Impacts Itemizers
Individual tax filers who were accustomed to itemizing their deductions may be in for a surprise when they file their 2018 federal income taxes. Although the Tax Cuts and Jobs Act of 2017 (TCJA) is projected to reduce many families' overall tax liability, it is also likely to reduce the number of individual taxpayers who itemize their deductions. Higher Standard Deduction In 2017, the $6,500 standard deduction for individual filers often didn't go far, especially for those in
