Tax season is beginning with a new tax code in full effect

Monday was the first day Americans could file their taxes, but a study by NerdWallet found about half of the people they surveyed did not know the tax code changed.

“We’ve been excited about the changes,” said George Sleeman, co-owner of Westside Tax Services in Colorado Springs. “It’s a huge change, biggest one since ’86 with Reagan.”

Sleeman said the bulk of his clients will see changes on their taxes when they file this year.

“About 98 percent are going to benefit,” Sleeman said.

He said the biggest changes taxpayers will notice is the standard deduction doubling.

“Married filing joint is a $24,000 standard deduction. A lot of people that itemized in the past may not do that this year,” Sleeman said.

Sleeman said it’s important to know the changes to get taxes done right.

“There’s a lot of things that have changed that you can no longer take and there are things you can now take,” Sleeman said.

Some businesses did withhold less of employees money because the tax rate went down with the new tax law. Sleeman said he thinks it shouldn’t change what people get back on tax returns or if they have to pay Uncle Sam more when they file because less money was being withheld to pay a lower tax percentage.