02-08-2019, 02:20 PM
(02-08-2019, 02:09 PM)fenders53 Wrote: That makes sense but Chas mentioned a "penalty". After reading it again, I assume he is actually just referring to additional tax tax owed. And I understand how that will make financially challenged somehow think their tax rates went up when they file.
Some folks did see their total tax liability go up. Thankfully, I did not. However, people who used to benefit from a lot of personal exemptions and deduct a hefty amount of state and local taxes are those most likely to have seen their federal income tax burden increase.