Reported 20 days ago
As the 2024 US presidential election approaches, the upcoming expiration of the Tax Cuts and Jobs Act (TCJA) provisions at the end of 2025 is set to have significant effects on taxpayers, regardless of the election outcome. Jeff Kelson from EisnerAmper emphasizes that this expiration will likely push tax policy to the forefront of legislative discussions, potentially altering state tax exemptions, business deductions, and tax rates. However, changes will not take effect until 2026.
Source: YAHOO