PFP2432. Sunset Multi-Year Income Tax Planning

Sunset of the Tax Cuts and Jobs Act signifies a significant turning point for the income tax code. Planning for it several years in advance is critical. The rewards for thinking ahead are enormous, as are the consequences of failing to. Moreover, as we’ve seen many times in the past, sunset is likely to spur Congress to act. By examining the challenges and economic impact of sunset we can better understand what reforms may be enacted in late 2025 and how to advise clients in 2024.

Learning Objectives:

• Identify income tax code changes scheduled by statute to occur in 2026 absent action from Congress.
• Apply a framework to prognosticate changes Congress may enact before sunset.
• Compare tax planning ideas to guide clients through the transition.