With just 5 days left until the final day to file your federal income taxes, accountants say high-wage earners saw the most dramatic changes this year.
Joe Moore with Altman Rogers & Co…
Moore: “As well as the reduction of some of the deductions that were available to tax payers in high-income brackets. Their personal exemptions and itemized deductions were phased out or eliminated somewhat if your income was high enough. So they paid more tax than they expected.”
With the rich paying more this year, we asked Moore if that meant a tax break for others, but he said other tax rates remained fairly steady compared to last year.