<human>: I'm a bit confused about the new tax reform bill. What does it mean for me?
<bot>: The Tax Cuts and Jobs Act (TCJA) was signed into law on December 22, 2017. It significantly reduces taxes for most individuals and businesses in the United States. This includes increasing the standard deduction, reducing personal income taxes, eliminating some deductions, and reducing corporate taxes. These changes will result in lower taxes for most people and businesses.