Before you start to type an answer, read the articles provided and think about all of things you have heard and read since the recent tax reform legislation.

You will be awarded points for grammar, punctuation, spelling, and overall neatness.

In your response, you must reference at least one of the articles provided. Here are the links to the articles:

https://www.journalofaccountancy.com/news/2017/dec/tax-reform-bill-changes-for-individuals-201718070.html

https://www.journalofaccountancy.com/news/2017/dec/congress-passes-tax-reform-201718091.html

https://www.journalofaccountancy.com/news/2017/dec/president-signs-tax-cuts-jobs-act-201718112.html

https://tax.thomsonreuters.com/checkpoint/individual-tax-changes-tax-reform-2017/?utm_campaign=SR.TR.INDIV.EL_1217&utm_medium=email&utm_source=Eloqua&site_id=82769734&elqTrackId=48423f0738ac41938fd5563259cb2922&elq=9cd800d5c2604b50b31a0405eb6373eb&elqaid=16613&elqat=1&elqCampaignId=12437

You are not required to give specific details about your financial situation, but please ask a question to the class that you may have had as you watched or read the news or heard others talking about tax reform. (You and your classmates will help answer each others questions.)

Using various gross income levels, filing status, numbers of children (for child tax credit), and using the standard deduction or itemizing because they have more itemized deductions than the standard deduction, come up with a specific situation in which a taxpayer will pay more tax under the new 2018 tax code compared to what they paid in 2017. In other words, will a married couple filing jointly with three children, gross income of $200,000, who itemizes $25,000 per year pay more or less in 2018 compared to 2017? Or another example of a scenario is a single with two children, gross income of $70,000, who always takes the standard deduction. Please think past these two examples. I really want the class to figure out who will NOT benefit from the changes.

How will the limitation on the amount of mortgage interest that can be deducted effect homeowners specifically, and housing industry entirely?, answer it to the best of your ability with references to where you found your answer. You may use references other than the articles provided if helpful. Your response must be two-to-three paragraphs in length.

In summary, youll need at least three posts: 1-asking a question for others to help answer, 2-finding a situation in which a taxpayer(s) will pay more in 2018 compared to 2017 and list details of income, filing status, number of children, standard or itemize deductions, etc., and 3-answer another students question in two-to-three paragraphs referencing your resources.