Law Changes for 2018 Affect Withholding
Recent changes affecting withholding include:
Reduced tax rates
Elimination of personal exemptions
Increased standard deductions: $12,000 for singles, $18,000 for heads of households and $24,000 for married couples filing jointly
Increased child tax credit: $2,000 per qualifying child and a new $500 credit for other qualifying dependents
Changes to itemized deductions
See IRS.gov/taxreform for more information.
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