13 tax law changes you need to know before filing a return in 2018

KNOW THE CODE

The 2018 tax season (for the 2017 tax year) is underway, and the Internal Revenue Service is expecting 155 million returns by the time it's all over. Though acting early is advisable if you want to prevent identity theft and fraud, the IRS still advises taxpayers to wait for official documents (W-2s, annual statements, etc.) before filing, to get it right the first time. Though changes in the tax code for 2017 filing are fairly tame compared with what Congressional tax reform will do to the code for 2018, it's best to do your homework and avoid confusion. Tax software programs and accountants can help, but don't leave anything to chance.