IRS erases Trump tax cut with rule change?
Updated: Nov 16, 2018
Ha ha. So you thought you were going to pay fewer federal taxes? Ha. Think again Mr. or Mrs. Taxpayer. The taxman is going to get his due. He always does.
It is worth noting that nearly half of people in the USA pay no federal taxes at all and that a good portion of these people actually get tax CREDITS from the government. Yet we are always told that taxpayers don't pay enough.
That the tax system isn't "fair".
(From The Wall Street Journal)
The Internal Revenue Service on Thursday announced the tax code’s parameters for 2019, implementing a new method for making inflation adjustments that will result in higher tax payments—and government revenue—over time.
The shift will cost Americans $133.5 billion over a decade, according to Congress’s Joint Committee on Taxation.