If you drop into a lower tax bracket this year, you might see a boost in your take-home pay. Courtney Johnston is a senior editor leading the CNET Money team. Passionate about financial literacy ...
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There is no change to the rates that apply to different levels of income. The seven tax brackets put in place under the Tax Cut and Jobs Act (TCJA) remain 10%, 12%, 22%, 24%, 32%, 35% and 37%.
But ordinary income tax rates still apply to distributions for ... and tax as a corporate attorney and business journalist. California Fires: How to Recover Tax Records and Other Important ...
There are no changes in the income tax laws under the old tax regime. Thus, if a taxpayer opts for the old tax regime, the calculation will be done on the rates that were applicable the previous year.