Under the new tax law approved by Congress, the standard deduction is going up and the personal exemption is going away. But these changes won't be visible until your 2019 returns. WSJ's Richard Rubin explains the recipe behind the changes that are coming to your tax bill. The IRS, which has lost nearly one-third of its enforcement staffers since the 2010 peak, audited 0.62% of individual returns in the fiscal year that ended Sept. 30, according to data to be released Thursday. The audit of about 1 in 160 individual returns in 2017 is down from 1 in 90 in 2010, the peak year in the past...

Source: Wall Street Journal March 29, 2018 09:22 UTC