The upcoming expiration of the TCJA could cause a variety of changes to tax law, both for provisions set to expire or change under current law and for other parts of tax law that could change as a result of the negotiations. For example, the qualified business income d...
For example, consider the impact of the Tax Cuts and Jobs Act (TCJA) expirations in 2025. The Tax Foundation emphasizes that policymakers will be navigating the expirations of certain provisions of the TCJA in 2025. A Tax Foundation calculator can help you understand how these expirations migh...
The Tax Cuts and Jobs Act is approaching its expiration date. If policymakers don’t act to extend the law by the end of 2025, Americans and small businesses will experience a tax hike.
The expiration isn’t a surprise: It was written into Trump’s signature tax legislation from his first term, the Tax Cuts and Jobs Act (TCJA), signed into law in 2017. The TCJA’s provisions included a permanent lower corporate tax rate, as well as temporary lower income tax rates ...
The change will also raise the other tax rates, which Biden mentioned in the budget, saying he plans to "work with Congress to address the 2025 expirations."
Debate over the potential renewal of the so-called Trump tax cuts of 2017 will be building as their expiration approaches next year. The focus will likely be on corporate and personal tax rates. But there’s a less-appreciated but consequential side effect of the Tax Cuts and Jobs Act: its...
The expiration of key provisions of the Tax Cuts and Jobs Act will have implications beyond federal tax policy, particularly on the debate around the cap on the itemized deduction for state and local taxes. Arguments for letting the SALT cap expire emphasize its unfairness to some taxpay...
Another potential change is the expiration of the qualified business income deduction, which allowed small business owners, freelancers and others who own their own business to deduct 20% of their income from their taxes. That tax break is set to expire at the end of 2025. ...
Unfortunately, JGTRRA was designed to expire in 2010.10The newly-elected Obama administration and Congress, faced with the Great Recession, extended it until 2012 as part of the deal to avoid thefiscal cliff. They now have no expiration date.11 ...
With the anticipation of the expiration of the Tax Cuts and Jobs Act (TCJA), an important change may affect workers who spend part of their workweek at home Read More admin Jun 27, 2024 How to Maximize My 2025 Tax Refund Today Thinking about 2025 Tax Refund? Take a proactive approach...