How Will the New Bill Impact your 2025 Taxes
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The New Tax Bill was signed into Law in July 2025. It is a comprehensive piece of legislation that overhauls the US tax code and includes provisions related to individual income taxes, business taxes, and more.
How with the changes below effect your 2025 Federal Tax Bill
- Permanent extension of 2017 Tax Cuts and Jobs Act (TCJA) provisions: This includes lower individual income tax rates and other changes.
- Changes to the SALT deduction: The bill increases the cap on the state and local tax deduction for certain taxpayers.
- Changes to clean energy tax credits: The bill rolls back some clean energy tax credits.
- Provisions for families and seniors: The bill includes expanded child tax credits and enhanced deductions for older taxpayers.
- Other provisions: The bill also includes changes related to the individual mandate of the Affordable Care Act, deductions for moving expenses, and the Alternative Minimum Tax.