U.S. Markets closed

Tax season begins today: What you need to know

The big tax story in 2017 was the $150 trillion Tax Cuts and Jobs Act, which President Trump signed into law on Dec. 22. The legislation significantly transformed the tax code for the first time in more than 30 years, with new tax rates and modified deductions. Many taxpayers will soon see a slight bump in their paychecks beginning in February.