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gcastanza
New Member

Since the recent tax cut legislation doesn't become effective until February 2018, should I wait to file my taxes until after that date?

 
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xmasbaby0
Level 15

Since the recent tax cut legislation doesn't become effective until February 2018, should I wait to file my taxes until after that date?

No.  Those new tax laws do not affect your 2017 tax return, except for the 7.5% of AGI medical expense threshold.  They will affect your 2018 tax return that you prepare in 2019.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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2 Replies
xmasbaby0
Level 15

Since the recent tax cut legislation doesn't become effective until February 2018, should I wait to file my taxes until after that date?

No.  Those new tax laws do not affect your 2017 tax return, except for the 7.5% of AGI medical expense threshold.  They will affect your 2018 tax return that you prepare in 2019.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
levisncap89
New Member

Since the recent tax cut legislation doesn't become effective until February 2018, should I wait to file my taxes until after that date?

That affects withholding and tax rates for 2018. It won't affect this year's return.

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