The the tax law that went into effect in 2018 is now applicable on your 2019 filing.

What's new?

The tax rate in most brackets has been reduced:

The standard deduction was increased:

2018: single: $6350/ married filing jointly: $12,700

2019: single:12,000 / married filing jointly: $24,000

Child Tax Credit:

2018: $1000/child $110,000 income cap threshold for married filing jointly

2019: $2,000/child $400,000 income cap threshold for married filing jointly (and $200,000 income cap for all other returns)

Other significant changes:

The tax penalty for not having health insurance has been repealed.

You can deduct out-of-pocket medical expenses above 7.5% of your adjusted gross income. (Previous years the deduction was anything above 10% of adjusted gross income.)

State and Local tax deductions are capped at $10,000 (this includes property tax)