IRS Registered Tax Return Preparer

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2019 Tax Changes

2019 TAX CHANGES

Below are some of the changes for the 2020 filing season for 2019 Tax returns:

  • Form 1040-SR U.S. Tax Return for Seniors
  • New Supplemental Schedules Redesigned
  • Increased Standard Deduction
  • Insurance Penalty
  • Qualified Business Income Deduction Form(s) 8995/8995-A
  • Schedule A Medical Expense Threshold Increased to 10% vs 7.5%
  • Income Tax Brackets & Tax Rates
  • Alimony Deduction Eliminated
  • 401k Contribution Limits
  • IRA Contribution Limits
  • AMT Exemptions Increased
  • HSA Contribution Limits

You can read more about these changes at OLTTaxes.com

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