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Tax expert advises “be prepared early” for potential TCJA changes

ThomsonReuters

Among these were several payroll-related provisions that are set to expire at the end of 2025, presenting challenges and opportunities for employers and employees alike. ” The TCJA took effect on January 1, 2018 and many of its provisions remain in effect through 2025. 199A , should the provision sunset after 2025. .

Tax 98
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Tax Law: These TCJA Provisions Will Expire Soon

CPA Practice

Although there are exceptions, many of the provisions for individuals are scheduled to expire after 2025. But the TCJA suspended all personal exemptions for 2018 through 2025. SALT expenses: In the past, state and local tax (SALT) payments were fully deductible. These enhancements will disappear after 2025.

Tax 106
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??Tax Attorney Weighs In on Payroll Tax Provisions in FY 2024 Budget?

ThomsonReuters

. ”In fact, I would put the odds of enactment before 2025, after the next election cycle, of any provision described in the Biden Budget or Treasury Greenbook as less than 10%,” he said. 31, 2025 the Work Opportunity Tax Credit under  Code Sec. 31, 2025 the Work Opportunity Tax Credit under  Code Sec.