NEW INCOME TAX RATES AND BRACKETS For tax years beginning after December 31, 2017 and before January 1, 2026, seven tax brackets apply for individuals: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. PERSONAL EXEMPTIONS SUSPENDED The Tax Cuts and Jobs Act (TCJA) suspended the deduction for personal exemptions by reducing the exemption amount to…

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