Taxpayers face challenges as tax provisions sunset in 2025
Unless Congress acts, current tax rates and most tax provisions in the tax code will sunset in 2025.
Unless Congress acts, current tax rates and most tax provisions in the tax code will sunset in 2025.
Following months of negotiations, Democratic leadership in the Senate announced last week they reached a deal on a tax and spending bill.
Although not included in the initial proposal, Congress is considering making changes to the SALT deduction.
As lawmakers debate spending bills on Capitol Hill, the leading tax questions on the minds of advisors involve proposed changes to the tax code.
While many have called for the repeal of the cap on the state and local tax deduction, a group of lawmakers continue to debate ways to enhance the SALT deduction.
Taxpayers receive more clarity on recent tax proposals from the Treasury.
Several lawmakers on Capitol Hill have introduced legislation calling for a revival of the SALT deduction.