CNN Money Taxes

The GOP tax plan will give many households tax cuts in the first several years. But those cuts will expire and a key provision will raise many people's tax burdens over time, even if their income doesn't go up much.

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Republicans said their plan would make taxes easy to prepare, and indeed the final bill gets points for some simplification. But the whole story, like the tax code, is more complex.

The vast majority of statements from business, advocacy and trade groups have major concerns with the 1,000-page bill.

GOP leaders have agreed to save the student loan interest deduction and keep tuition waivers for graduate students tax-free.

Currently, teachers can deduct up to $250 for classroom materials from their taxable income. That won't change.

By failing to repeal the alternative minimum tax in their tax reform bill, Senate Republicans inadvertently undermined the research and development tax credit used by drug makers and tech companies.

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You'll be hearing a lot in coming days about the differences between the Senate and House tax bills. Here's your guide.