When 2025 draws to a close, so will many of the sweeping Trump-era GOP tax breaks established by the Tax Cuts and Jobs Act (TCJA) of 2017.
While the legislation made some tax cuts to corporate profit permanent, lowered individual tax rates will expire on Dec. 31, 2025, and will revert to pre-TCJA levels.
Largely dependent on which party ends up controlling the White House and Congress after Inauguration Day 2025, changes to the tax code are coming.
Whether cuts can be kept by Republicans, rates rewritten by Democrats, or a divided government will agree on some sort of bipartisan compromise, taxpayers of every political persuasion will be affected. (GoBankingRates 01/02/24) Trump Era Tax Cuts Are Set To Expire — Here’s How Much More You’ll Pay (msn.com)
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