1. Name 3 new tax law changes as it relates to Individual Tax Payers? 2. Name 3...

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Accounting

1. Name 3 new tax law changes as it relates to Individual TaxPayers?
2. Name 3 new tax law changes as it relates to Corporate TaxPayers?
3. What is the new “Pass thru” tax deduction? Which entities doesit apply to?
4. Do you think that by reducing the corporate tax rate it willhelp or hurt the United States?

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1 New tax law changes related to Individual Tax Payers are as follows a Taxpayer Certainty and Disaster Tax Relief Act of 2019 Reauthorized deductions for tuition and fees and for mortgage insurance premiums b Revision of Tax Cuts and Jobs Act of 2017 Doubled the standard deduction for most filers for tax year 2019 12200 for individuals up 200 from last year to adjust for inflation 18350 for heads of household up 350 24400 for married couples filing jointly up 400 c Social Security Number Required for Child Tax Credit Increased the credit from 1000 to 2000 per qualifying child under 17 with a valid Social Security number 2 New tax law changes related to Corporate Tax Payers are See Answer

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