Tax Code Changes This all seems to hinge on whether Congress extends the Bush Tax Cuts — if they do not the following will occur: click here for graphic. There will be higher taxes for all The lowest 10% individual income tax bracket will be eliminated. Thus the lowest bracket will be the 15% tax bracket. The existing 25% bracket will be replaced by 28%; the existing 28% … [Read more...] about How the New Tax Code Affects You and Your Estate and Trust Planning?