With 2018 drawing to a close, it’s becoming clearer who are the winners and losers of the Tax Cuts and Jobs Act of 2017. The law, which took effect on January 1, is going to hit some folks hard instead of benefiting them when they go to do their taxes next April.
Those who haven’t been paying attention this year and planning ahead may find themselves with some unpleasant surprises come tax time. Audit defense service Tax Audit has, however, done its homework and offers a list of five categories of taxpayers who may find themselves on the wrong end of the changes wrought by the law.
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