President Trump Has Signed the GOP Tax Bill|Trump signed bill|Cuts will start|us gop tax bill signed by trump

President Trump Has Signed the GOP Tax Bill. Here’s When the Cuts Will Start

The GOP tax bill has passed through Congress, with Republican majorities in both houses carrying the tax reform package to President Donald Trump’s desk, where he has signed it into law. But the legislation that breezed through the House and squeezed through the Senate is complex, so it’s hard to know exactly when tax reform will effect taxpayers across the U.S.

Some of the Republican tax bill’s impact will begin at the start of 2018, though other elements won’t take effect until 2019 and beyond. For instance, when you file your 2017 taxes in April, you’ll already be getting some benefits like lower tax withholding, but other perks won’t show until you file your tax return in April 2019.

Tax brackets change on January 1

With changes to the tax rates, the GOP tax bill brings tax cuts to almost all of the seven tax brackets beginning in 2018. That means the current rates, from 10% for the lowest bracket to 39.6% for the highest earners, will change and look like this:

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