$3k?! Wow, I didn't think that was possible. Worst case for us would be about a $700 tax increase, but that depends on the amount of itemizing we would have done that gets negated by the higher standard deduction.
Honestly, I wish they would have helped retirees out by raising the income threshold at which Social Security benefits get taxed. Annoying that California, New York, and Illinois don't tax SS at all and the federal government does at a certain income level.
I understand how higher standard deduction negate itemized deductions but how does higher deductions increase your taxable income?
I’ll bet there are millions more solid middle class people like us that will be just as pissed as I am.