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Tag Archives: Tax Refund

The Tax Plan proposal by President Trump will Drastically Reduce Refunds for Many Taxpayers

Photo © Shutterstock.com By Carmela Walrond, Managing Tax Attorney Under the plan, taxpayers will have three tax rates: 35%, 25%, 12%. The plan does not state which rate would apply to someone earning $20,000 or $50,000 would pay. The standard deduction (currently $6,300 for individual, $9,300 Head of Household, Married filing jointly $12,600) would double.  In…
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