A situation of the new tax code leading to higher tax (excluding the cap on state+local taxes) under the new system hit me:
Married couple, AGI = 32,100, itemized deductions = 24,000
Under the old system, taxable income = 32,100 - 24,000 (itemized deductions) - 8100 (2x personal exemptions) = 0, tax = 0
Under the new system, taxable income - 32,100 - 24,000 (deductions, itemized or standard) = 8,100, tax = $810
An unlikely situation with itemized deductions being so high with an AGI of $32k.
This "might" be the worst case situation. Too many interactions in the tax code for me to know for sure. I'd just say to anybody claiming their tax bill went up by thousands of dollars due to the new tax law to prove it by posting the information used to calculate the tax.
Married couple, AGI = 32,100, itemized deductions = 24,000
Under the old system, taxable income = 32,100 - 24,000 (itemized deductions) - 8100 (2x personal exemptions) = 0, tax = 0
Under the new system, taxable income - 32,100 - 24,000 (deductions, itemized or standard) = 8,100, tax = $810
An unlikely situation with itemized deductions being so high with an AGI of $32k.
This "might" be the worst case situation. Too many interactions in the tax code for me to know for sure. I'd just say to anybody claiming their tax bill went up by thousands of dollars due to the new tax law to prove it by posting the information used to calculate the tax.