2019 tax calculator



Find out what to expect when you first file your taxes in the 2017 overhaul.

Posted March 4, 2019 at 5:30 a.m.ET

American taxpayers are on the verge of seeing the effects of the most profound overhaul of the tax system in more than three decades. It became law in December 2017, but the first real accounting will now appear, as taxpayers will file the first individual returns under the new system. The plan cuts personal tax rates, extends the standard deduction, increases the child tax credit, and reduces or eliminates some tax breaks.

About two-thirds of households will get tax cuts and about 6% will pay more, according to the Tax Policy Center, a Washington group led by a former Obama administration official. Whether you get a bigger refund than usual depends on changes to the withholding from your paycheck and estimated tax payments in 2018.

What does this mean to you? Using a simplified version of the Penn Wharton Budget Model, which analyzes the impact of key factors in the law, you can estimate your tax payable for 2018 to 2027.

Note: The information you enter will not be stored or used by The Wall Street Journal or any other party.



Esther L. Steinbach

Leave a Reply

Your email address will not be published.