Meet the Tax Act's New Tax Brackets
Tax brackets determine how your income is taxed at various rates. The House and Senate versions of the Tax Cuts and Jobs Act each proposed different sets of income tax brackets, both of which vary significantly from the current setup. Here's how those different tax bracket options could play out if one of the two bills becomes law.
Despite the uncertainties about tax reform, the IRS released its numbers for the 2018 tax brackets as they stand under the current tax code. If tax reform doesn't happen in time for 2018, you'll use whichever of the below tax brackets applies for your filing status for the year:
Bracket
Source: Fool.com
