The new tax scam doesnt take effect until 2019

[AllyCat]

Does that mean it really doesn’t change until taxpayers file their 2019 taxes in 2020, or will we all see the change IN 2019 when we file for 2018?

Now that a few people have responded, I think it is interesting in the obstetrics part of the world, this is one of our busiest weeks. Everyone trying to have their babies before the end of the year for the tax deduction. Won’t be the same next year. Because it just won’t matter anymore.

Not that this is worst thing in the bill. Just a change as I fielded my third call in two days to come in early.

[Joe941]

1. We should start to see changes in the form of paycheck deduction starting in Feb.

But yes in 2019 when we file 2018 taxes is when we will be under the new rules.

[BeyondGeography]

2. The latter

And new paytables should be ready by Feb. IIRC, so you’ll see changes pretty soon.

[unblock]

3. Its effective January 1, 2018. Just because we file after the year is over doesnt mean

That it isn’t effective until then

[AllyCat]

4. Trump supporting family member just told me we will get a LARGER tax break for children

Under this new plan. Right.

[unblock]

5. Well the child tax credit goes from $1000 to $2000

But yeah, after the bigger exemptions were eliminated.

[PoindexterOglethorpe]

6. It will take effect next year.

So when you file this coming April, the old rules are in effect. When you file in April of 2019, it will be under the new law.

I'm also thinking that for all those who don't itemize, the new law will be highly beneficial. I'm one who doesn't itemize. I haven't any idea what percent of filers itemize vs those who don't.