Did you get a tax cut this year? According to new data from the Tax Policy Center, the majority of Americans did in fact pay fewer taxes under the Tax Cuts and Jobs Act—but since many of us are getting smaller refunds (or no refunds at all), it might not feel like it.
Now that most of us have paid our taxes—and now that we understand how our tax burden has shifted thanks to the Tax Cuts and Jobs Act—it’s time to start planning for Tax Year 2019.
For some of us, that might mean trying to end the 2019 tax year with a bill of exactly $0—that is, you’ve already paid everything you owe in taxes and no more. You don’t get a refund, but you don’t have to pay any additional taxes. It’s kind of like getting a perfect score on tax payment.