New deductions usually introduce new complexities and the need for better recordkeeping.
Articles on US tax code
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Only a tiny fraction of Americans are rich enough for it to matter anyway. And many wealthy taxpayers already locked their existing assets into estate plans that they can’t change.
The Tax Cuts and Jobs Act from Trump’s first administration harmed many middle-class and low-income taxpayers. But Black people got it the worst, says an expert on race and taxation.
