Let's start with the big one. Although most Americans pay less overall taxes, many were surprised to find that their repayments had barely changed or were falling, which gave them the impression of being lost, even if they still won.
You will find below other ways to determine who wins and who loses in the face of the law. And please take note: It is possible to both win and lose at the same time.
Just under 30% of filers will see very little change in their tax obligations and a small percentage, about 6%, will see an increase. These tax rate reductions for individual filers are not permanent like corporate tax cuts, but will be in effect until 2025.
But while most Americans have had a tax break, most people do not seem to understand that they have one. According to a NBC News / Wall Street Journal poll released this week, only 17% of Americans think they benefit from a tax break, while 28% said they would pay more.
Winner: most rich people
The benefits of the new tax law favor the rich, who will generally enjoy greater benefits than other Americans.
According to this report, most people with the lowest incomes (20%) will see little or no change in their tax obligations.
Losing: Rich people, probably in the blue states
About 14% of the wealthy earning more than a million dollars will see their tax increase. They are likely to be concentrated in high-tax states and local governments and possibly several houses. Previously, they were able to deduct much more state and municipal income taxes from their federal returns. Now, these deductions are capped at $ 10,000.
Really winner: the heirs of the rich
Always win: investors
Capital gains tax rates have not changed in the tax law and remain below the wage income rates. Thus, people who earn mainly money on their investments will continue to pay less tax than those who depend mainly on wage income.
Earn: Trump, perhaps, although other business owners do not earn as much
Most small business owners (and many small business owners) include their profits in personal tax returns instead of paying as corporations. Trump is probably among these, although it's impossible to know since he kept his tax returns from public view.
Winner: red state filers who depend on refunds
According to preliminary data from H & R Block, it is mainly the red states, those who voted for Trump in 2016, who are getting the biggest rise in tax refunds.
Losing: blue filers who depend on repayments
In H & R Block's preliminary data, some of the states with the largest tax cuts to pay are blue states imposing high national and local taxes, such as New Jersey, California, and Massachusetts. Tax filers in these high-tax states earned on average some of the largest tax cuts. They also experienced some of the largest average decreases in repayments.
Losing: People who thought that a tax break would mean a bigger refund
The government has paid $ 6 billion less in repayments until March 29, according to the IRS, although the average repayment, according to its data, is $ 2,873 and has decreased by less than 1% compared to last year.
Losing: People who do not get a refund but who may think that they would do it
Win: people make their own taxes
Winner: people who take the standard deduction
Losing: Washington, DC, reporters
The capital has the largest average drop, at 6.1%. It also records the smallest decrease in the average tax debt, 18% – which is certainly a reduction, but the lowest, on average, of the country.
Earn forever: businesses
They obtained a massive rate reduction from 35% to 21% starting in 2018, which is permanently registered in the new law.
Losing: the US Treasury