The Tax Cuts and Jobs Act of 2017 makes substantial changes to the income taxes of individuals. Attached is a chart summarizing those changes.
The Act's individual changes noted in the attached chart generally expire on January 1, 2026, and the speculation will continue as to whether such changes will remain thereafter.
There is no substitute for a review of your personal situation and how the changes impact you. We recommend such a review with the attorney at Stinson Leonard Street who advises you or with your tax preparer.