9 Potential Tax Changes for 2018 You Need to Know About
Taxpayers like certainty when they're trying to figure out how to pay as little tax as possible. Right now, there's never been less certainty about what the tax laws will look like in the near future, as competing tax reform proposals from the House of Representatives and the Senate are set to square off in a joint conference. The goal is to create new tax laws that both chambers of Congress can agree on and vote to approve.
What that means is that what's in store for 2018 on the tax front isn't nearly as clear as it normally would be by now. Below, you'll find 10 key tax provisions that could change in 2018, with some guesses about what the final provisions of a tax reform bill might be.
Both proposals have a different set of tax rates for taxpayers to follow. The House version simplifies the rate structure, with four rates of 12%, 25%, 33%, and 39.6%. The Senate version keeps the current seven-rate structure, but it reduces most of them to 10%, 12%, 22%, 24%, 32%, 35%, and 38.5%.
Source: Fool.com
