12 Tax Deductions That Have Disappeared
THE TAX CUTS AND JOBS Act of 2017 made major changes to the tax code and were a mixed bag for some households. While the standard deduction nearly doubled and the child tax credit increased, many other deductions and credits were eliminated. Not much will be changing for the 2020 tax year though. “There’s a lot of confusion about the stimulus package,” says Greg Hammer, president of Hammer Financial in Schererville, Indiana. However, the provisions of the Coronavirus Aid, Relief and Economic Security (CARES) Act shouldn’t impact tax deductions for…
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