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Everything to Know About Tax Reform 2025

Unless Congress acts before January 1, 2026, the expiration of the 2017 Tax Cuts and Jobs Act (TCJA) will trigger widespread tax increases for 80% of Americans, significantly impact the U.S. economy, and disrupt state tax structures.

Expiration would mean:

  • Halving the federal standard deduction

  • Reducing the federal child tax credit

  • Reintroducing higher federal tax brackets

  • Lowering the federal estate tax threshold

  • Eliminate key business tax benefits like federal Section 199A and full expensing