The Tax Cuts and Jobs Act (TCJA) and Bipartisan Budget Act of 2018 has caused the biggest change in the American tax system in 30 years. 9 Personal Deductions and Credits Eliminated or Decreased Many popular deductions claimed on personal income tax returns have been eliminated or decreased for the 2018 tax filing season. 1. Personal Exemption: You will no longer be able to take a deduction for yourself, the taxpayer, or your dependents. 2. Alimony: If your divorce is finaliz

Say bye bye to Form 1040EZ and 1040 A, and say hello to my little friend the slim and trim Form 1040. It is the size of a postcard. 6 Accompanying Schedules to 1040 A general guide to what Schedule(s) you will need to file along with the 1040: Schedule 1 Have additional income, such as capital gains, unemployment compensation, prize or award money, gambling winnings. Have any deductions to claim, such as student loan interest deduction, self-employment tax, educator e