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Tagged: #TCJA #SunsetProvisions

Accounting for Business

Welcome to our Resources section, where you will find articles pertaining to accounting for business, business financial planning, financial advice, and the industries of our clients.
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The Tax Cuts and Jobs Act (TCJA, or Act) makes substantial changes to the Internal Revenue Code. In order to comply with certain budgetary constraints, the TCJA contains a “sunset,” or an expiration date, for many of its provisions. Accordingly, many of the TCJA provisions are temporary. Unless otherwise noted, the provisions discussed below are effective for tax years beginning after Dec. 31, 2017 and before Jan. 1, 2026. For calendar-year taxpayers (nearly all individuals), this means that the provisions are effective for 2018-2025.