© 2017 Bloomberg Finance LPAs tax filing season came to an end, lots of people wanted to know how much the Tax Cuts and Jobs Act (TCJA) affected 2018 federal income tax bills. Last year, TPC projected 2018 tax cuts and tax increases for various income groups. So here’s the bottom line:About 65 percent of households paid less in individual income taxes in 2018 as a result of the TCJA. Those in the top 1 percent, who made $733,000 or more, got an average tax cut of about $33,000. The analysis did so for both the individual income tax alone and for the broader provisions of the TCJA.

Source: Forbes April 17, 2019 18:56 UTC