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ARTICLE · 28 MAY 2024

Setting The Table For Tax Reform In 2025

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Due to several Tax Cuts and Jobs Act (TCJA)1 provisions expiring at the end of 2025, next year is shaping up to be what some are already calling the Super Bowl of Tax.

United StatesTax
Darryl Nirenberg
Darryl Nirenberg
Lisa Zarlenga
Lisa Zarlenga
Nick Sutter
Nick Sutter

Due to several Tax Cuts and Jobs Act (TCJA)1 provisions expiring at the end of 2025, next year is shaping up to be what some are already calling the Super Bowl of Tax.

Earlier this year, Senate Finance Committee Chairman Ron Wyden (D-OR) and House Ways and Means Chairman Jason Smith (R-MO) struck a rare bipartisan compromise on tax legislation to move forward with the Tax Relief for American Families and Workers Act (H.R. 7024). This legislation would extend the enhanced Child Tax Credit along with several of the TCJA's expiring business provisions and would offset these extensions by sunsetting and beefing up the IRS's enforcement tools relating to the COVID-era Employee Retention Credit.

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