P.L. 115-97 and the 2019 Federal Income Tax Filing Season for Individuals

P.L. 115-97 and the 2019 Federal Income Tax Filing Season for Individuals

In late 2017, a bill (H.R. 1) was enacted (P.L. 115-97) that made numerous changes to the federal income tax for individuals and businesses. For a summary of those changes, see CRS Report R45092, The 2017 Tax Revision (P.L. 115-97): Comparison to 2017 Tax Law, coordinated by Molly F. Sherlock and Donald J. Marples. (The title of the bill as passed by the House was the Tax Cuts and Jobs Act, but it was stricken before final passage under the reconciliation process used to consider the bill.)

The changes in the taxation of individual income have implications for many of the key tax elements that help determine an individual's federal income tax liability from the 2018 to 2025 tax years. Starting in 2026, these elements are scheduled to revert to their levels in 2017, the final tax year under previous law. The individual tax elements that P.L. 115-97 altered include marginal tax rates, the method for adjusting key tax elements for inflation, the standard deduction, personal exemptions, miscellaneous itemized deductions, the child tax credit, charitable contributions, and the use of other itemized deductions such as the deductions for state and local taxes and mortgage interest. For more details on the key elements of the 2018 federal income tax, see CRS Report R45145, Overview of the Federal Tax System in 2018, by Molly F. Sherlock and Donald J. Marples.

This Insight provides links to CRS products that address key individual income tax elements that changed as a result of P.L. 115-97, and that are likely to become concerns for many individuals as they prepare their tax returns for the 2018 tax year. These products are intended to assist congressional staff in responding to tax filing questions from constituents related to those changes. They are current as of the date on the product.

Click on any of the titles below to access the product. For congressional clients, the authors are available to answer questions, as well as to undertake research, prepare confidential memoranda, and provide in-person consultations tailored to particular needs and interests. Congressional clients can find contact information at the end of each product.

CRS In Focus IF11063, 2019 Tax Filing Season (2018 Tax Year): The Mortgage Interest Deduction, by Mark P. Keightley

CRS In Focus IF11111, 2019 Tax Filing Season (2018 Tax Year): Examples of Deducting Interest on Mortgage Debt and Home Equity Loans, by Mark P. Keightley

CRS Insight IN11042, Where's My Refund? A Look at Tax Refund Trends over Time and Across Income Levels, by Molly F. Sherlock and Margot L. Crandall-Hollick

CRS In Focus IF11022, The Charitable Deduction for Individuals, by Margot L. Crandall-Hollick and Molly F. Sherlock

CRS In Focus IF11098, 2019 Tax Filing Season (2018 Tax Year): The State and Local Tax Deduction, by Grant A. Driessen

CRS In Focus IF11091, 2019 Tax Filing Season (2018 Tax Year): Itemized Deductions, by Sean Lowry

CRS In Focus IF11077, The Child Tax Credit, by Margot L. Crandall-Hollick

CRS In Focus IF11122, 2019 Tax Filing Season (2018 Tax Year): Section 199A Deduction for Passthrough Business Income, by Gary Guenther

CRS Insight IN11039, The Federal Income Tax: How Did P.L. 115-97 Change Marginal Income Tax Rates?, by Margot L. Crandall-Hollick

CRS Infographic IG10011, The U.S. Individual Income Tax System, 2018, by Molly F. Sherlock