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21 Ways the House and Senate Tax Bills May Affect You and Your Pocketbook

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To paraphrase President Trump’s comment earlier this year about health care reform: Who knew tax reform could be so difficult?

Last-minute glitches and furious horse trading added real drama to the Senate’s push to approve its version of a major overhaul of the nation’s tax rules in the early hours of December 2. Now, things really get interesting as House and Senate Republicans work to iron out the differences in their respective bills.

Here’s a look at 21 issues that could affect you and your pocketbook—some of which seem to be done deals, others that are still up in the air. And note this: Many of the changes in the Senate bill would expire after 2025, and, unless a future Congress acts to extend them, the rules would revert to current law.

Every taxpayer needs to pay attention over the next few weeks.

SEE ALSO: The Most-Overlooked Tax Deductions

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