Tag: tax bill

“I owe how much‽” Americans Shocked by Impact of New Tax Law

Many Americans are being caught off guard by their tax returns this year — and not in a good way. After passing a sweeping tax reform bill in 2017 that gave a $1.5 trillion tax cut to billionaires and wealthy corporations, Republicans did not keep taxpayers looped into how changes to the tax code would impact their filing process. As a result, many Americans are finding that they did not select the proper withholding amount from their paychecks, and will end up owing money rather than seeing a return this year. With less than half of Americans having $1,000 in ... Read more