IRS Announces Inflation Adjustments for Tax Year 2019

[KingsX]

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This is for tax year 2019, NOT 2018.

Trump's new tax law changed the annual inflation adjustment method to "Chained CPI." Which means inflation adjustments will now be lower than if the previous method were used.

https://www.fool.com/taxes/2018/03/18/tax-reforms-chained-cpi-takes-its-first-casualties.aspx


Here is the IRS announcement of inflation adjustments for tax year 2019.

https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2019


Here are IRS inflation adjustments in a different format from another source.

https://tax.thomsonreuters.com/news...rate-schedule-and-other-tax-figures-for-2019/

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[Don M.]

It's always a Guessing Game anytime the government fools with taxes. If we get any "benefit" from the new tax codes, I expect the changes to be minimal...I'm set up such that we always get a small refund, and hopefully that will increase slightly, instead of the opposite. For years, I've just been using a CD from H&R Block to do the taxes, and hopefully H&R will be ready to account for any changes in the new tax codes.