Key Takeaways
High-income individuals were the most likely to see tax savings, while low-income and middle-class families saw mixed results.
88.2% of taxpayers claimed the standard deduction in 2018.
The higher standard deduction wasn’t enough to offset the loss of personal exemptions for some families.
Businesses appear to have saved the most from the Trump tax cuts; corporate income tax collected by the IRS decreased by 22.4% from 2017 to 2018.
Link: https://www.policygenius.com/taxes/who-benefited-most-from-the-tax-cuts-and-jobs-act/