HOW WILL THE NEW TAX OVERHAUL AFFECT ME?

The new law took effect starting in 2018, so will have no effect on people filing taxes for the 2017 tax year. Initially, most people will see their taxes reduced for the 2018 tax year. The increased standard deduction and child credits will mean more people should see bigger refunds. The mortgage interest reduction won't affect older mortgages, and the reduction of the state tax deduction will only affect a small number in Georgia. Other provisions of the law will be determined as congress and the IRS finishes writing the regulations.