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

posted

Connect with an expert

1 Best answer

Accepted Solutions

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.**

View solution in original post

2 Replies

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.**

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.

Still have questions?