Changes in Tax Law You Should Know About This Year

The IRS is heading into its busiest week of the tax season, with millions of Americans expected to file their federal income tax returns. While the changes in tax law for this year aren't as significant as in 2019, which followed the biggest overhaul in a generation, there are some changes people should be aware of. Here's what changed since last tax season.

After the standard deduction doubled in 2018, the number of taxpayers who claimed it instead of itemizing on their taxes jumped sharply. This year, an estimated 90% of taxpayers are expected to claim the deduction.

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