What households need to know about the tax bill's impact

Federal taxes can be confounding in any typical year. But the Republican-led Congress' mad dash to approve the most sweeping tax overhaul in three decades has left many households unsure of what changes might await them come Jan. 1 and what they should do — if anything — before or after then.

Here are some things to know.___

RATE CHANGE

For individuals, the legislation generally lowers rates across income levels. It retains the number of tax brackets — seven — but changes the rates that apply to particular income levels.