Prior to the 2024 U.S. Presidential election, the Tax Cuts and Jobs Act (TCJA) of 2017 scheduled expiring provisions in 2025 and 2026 that will impact tax planning and compliance. With the Republican Administration now in place, expect major new Federal tax legislation sometime this year. For now, however, be careful to consider current federal tax expiring provisions when planning for 2025 and 2026 – for individuals and businesses, as well as estates and trusts. View HERE for a listing of scheduled expiring provisions, while also keeping a close eye on expected new tax legislation to be proposed in Congress during the months ahead.