The GAO estimated that 21 percent of taxpayers would owe money under the new law, versus 18 percent under the prior law, because of changes in the way withholding is calculated.
The tax regulations detailing the new 20 percent deduction for pass-through business owners are of critical importance.
DebugScreen: mobile
{
"author": {
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"articles": [
{
"uri": "/2022/08/08/winners-and-losers-in-democrats-signature-tax-and-energy-bill-412-134215/",
"title": "Winners and losers in Democrats' tax, climate, and drugs bill",
"byline": "Laura Davison, Erik Wasson and Ari Natter",
"kicker": "News",
"prettyDate": "August 08, 2022",
"timeToRead": "6 minute",
"image": {
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"height": "414"
},
"authors": [
{
"webUrl": "/author/profile/laura-davison-erik-wasson/",
"name": "Laura Davison, Erik Wasson"
},
{
"webUrl": "/author/profile/ari-natter/",
"name": "Ari Natter"
}
],
"kickerNode": [
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],
"summary": "Here's a look at which groups and politicians come out on top and who takes a hit from the landmark bill, which now moves to the House.",
"body": null
},
{
"uri": "/2021/10/21/democrats-move-to-break-stalemate-on-biden-plan-by-scaling-back-412-122835/",
"title": "Dems scale back health care goals in effort to break stalemate",
"byline": "Laura Davison, Emily Wilkins and Erik Wasson",
"kicker": "News",
"prettyDate": "October 21, 2021",
"timeToRead": "6 minute",
"image": {
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"width": "616",
"height": "418"
},
"authors": [
{
"webUrl": "/author/profile/laura-davison-emily-wilkins/",
"name": "Laura Davison, Emily Wilkins"
},
{
"webUrl": "/author/profile/erik-wasson/",
"name": "Erik Wasson"
}
],
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],
"summary": "Extended child tax credits will likely be pared back, while expansions to Medicare and the SALT deduction are expected to remain.",
"body": null
},
{
"uri": "/2021/04/28/biden-unveils-1-8t-family-plan-tax-hike-proposals-412-115366/",
"title": "Biden unveils $1.8T family plan, tax hike proposals",
"byline": "Laura Davison",
"kicker": "News",
"prettyDate": "April 28, 2021",
"timeToRead": "7 minute",
"image": {
"uri": "https://images.benefitspro.com/contrib/content/uploads/sites/412/2021/04/Biden_Joe_Pres_31121_Bloomberg_1280x640.jpg",
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"authors": [
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],
"kickerNode": [
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],
"summary": "From benefits for child care and college to health care tax credits, this plan has a little bit of everything.",
"body": null
},
{
"uri": "/2021/03/08/heres-whats-in-the-senates-1-9-trillion-stimulus-bill/",
"title": "Here's what's in the Senate's $1.9 trillion stimulus bill",
"byline": "Laura Davison",
"kicker": "",
"prettyDate": "March 08, 2021",
"timeToRead": "6 minute",
"image": {
"uri": "https://images.benefitspro.com/contrib/content/uploads/sites/412/2021/03/dirksen-sentate-office-building-diego-m-radzinschi-alm.jpg",
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},
"authors": [
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"summary": "The House is scheduled to vote Tuesday on the Senate's version and must pass it before it can go to President Joe Biden for his signature.",
"body": null
},
{
"uri": "/2020/05/12/house-democrats-unveil-3-trillion-aid-bill-with-cash-for-states-412-98084/",
"title": "House Democrats unveil $3 trillion aid bill with cash for states",
"byline": "Erik Wasson and Laura Davison",
"kicker": "News",
"prettyDate": "May 12, 2020",
"timeToRead": "6 minute",
"image": {
"uri": "https://images.benefitspro.com/contrib/content/uploads/sites/412/2020/05/Pelosi_Nancy_Mask_SarahSilbigerBB1.jpg",
"width": "616",
"height": "372"
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"authors": [
{
"webUrl": "/author/profile/erik-wasson/",
"name": "Erik Wasson"
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{
"webUrl": "/author/profile/laura-davison/",
"name": "Laura Davison"
}
],
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"summary": "The bill includes more cash payments and tax changes; Republicans signaled that they're in no rush.",
"body": null
},
{
"uri": "/2020/01/17/tax-season-is-coming-and-it-might-be-as-chaotic-as-last-year/",
"title": "Tax season is coming -- and it might be as chaotic as last year",
"byline": "Laura Davison",
"kicker": "News",
"prettyDate": "January 17, 2020",
"timeToRead": "6 minute",
"image": {
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],
"summary": "IRS still working to issue guidance for the changes to the tax code signed into law more than 2 years ago.",
"body": null
},
{
"uri": "/2019/07/03/sanderss-medicare-for-all-plan-who-actually-comes-out-ahead/",
"title": "Sanders's Medicare for All plan: Who actually comes out ahead?",
"byline": "Laura Davison",
"kicker": "Analysis",
"prettyDate": "July 03, 2019",
"timeToRead": "5 minute",
"image": {
"uri": "https://images.benefitspro.com/contrib/content/uploads/sites/412/2018/07/Sanders.jpg",
"width": "616",
"height": "372"
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"authors": [
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"kickerNode": [
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],
"summary": "Employer-sponsored coverage could miss out on the benefits of the Sanders plan, and even those receiving Medicaid could pay more.",
"body": null
},
{
"uri": "/2019/06/07/trumps-tariffs-have-wiped-out-tax-bill-savings-for-average-americans/",
"title": "Trump's tariffs have wiped out tax bill savings for average Americans",
"byline": "Laura Davison",
"kicker": "Analysis",
"prettyDate": "June 07, 2019",
"timeToRead": "5 minute",
"image": {
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"authors": [
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],
"summary": "Only the top 5% of earners would continue to see a net tax cut of more than 1%, according to the right-leaning Tax Foundation.",
"body": null
},
{
"uri": "/2019/02/18/tax-refund-data-puts-mnuchin-in-hot-seat-to-explain-gop-law/",
"title": "Tax refund data puts Mnuchin in hot seat to explain GOP law",
"byline": "Laura Davison and Saleha Mohsin",
"kicker": "News",
"prettyDate": "February 18, 2019",
"timeToRead": "4 minute",
"image": {
"uri": "https://images.benefitspro.com/contrib/content/uploads/sites/412/2019/02/tax-forms-taxes-bloomberg.jpg",
"width": "621",
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},
"authors": [
{
"webUrl": "/author/profile/laura-davison/",
"name": "Laura Davison"
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{
"webUrl": "/author/profile/saleha-mohsin/",
"name": "Saleha Mohsin"
}
],
"kickerNode": [
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],
"summary": "The GAO estimated that 21 percent of taxpayers would owe money under the new law, versus 18 percent under the prior law, because of changes in the way withholding is calculated.",
"body": null
},
{
"uri": "/2019/01/18/private-equity-investors-get-irs-rules-on-20-percent-tax-break/",
"title": "Private equity investors get IRS rules on 20 percent tax break",
"byline": "Laura Davison",
"kicker": "",
"prettyDate": "January 18, 2019",
"timeToRead": "2 minute",
"image": {
"uri": "https://images.benefitspro.com/contrib/content/uploads/sites/412/2019/01/tax.jpg",
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},
"authors": [
{
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}
],
"kickerNode": [],
"summary": "The tax regulations detailing the new 20 percent deduction for pass-through business owners are of critical importance.",
"body": null
}
]
}
}