Wolters Kluwer Tax & Accounting released its estimates Monday of tax bracket ranges and other inflation-adjusted tax figures, including the standard deduction and personal exemption level, predicting the biggest tax savings in 11 years no matter what happens with tax reform.
The projections are based on the inflation data released last week by the U.S. Department of Labor. However, Wolters Kluwer added the important caveat that the tax reform legislation taking shape in Washington could ultimately change the final numbers, although current inflation factors would probably still play a role in determining the tax bracket and other ceiling amounts, even if tax rates and similar variables changed. Bloomberg BNA and Thomson Reuters released their estimates last week (see Inflation-adjusted tax rates predicted for 2018).
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