Federal tax policy to watch in the 2nd half of 2024

Federal tax policy to watch in the 2nd half of 2024

July 03, 2024

United States
United States
United States
Law360

Eversheds Sutherland Partner Xenia Garofalo is quoted in this Law360 article about federal tax policy to watch in the second half of the year.

In the article, Xenia expresses concern regarding the expiration of certain tax incentives under TCJA.  

"Many tax practitioners, including myself, are waiting to see whether Congress will extend any of the TCJA provisions, or whether they will allow some or all provisions to expire in light of the fiscal burden and budget deficit," Xenia said.

"If Congress does not extend certain of the provisions — namely the TCJA changes to individual income tax and the reduction of the effective tax rate on certain pass-through income — this could raise taxes for more than 60% of taxpayers starting in 2026."

The materials on the Eversheds Sutherland website are for general information purposes only and do not constitute legal advice. While reasonable care is taken to ensure accuracy, the materials may not reflect the most current legal developments. Eversheds Sutherland disclaims liability for actions taken based on the materials. Always consult a qualified lawyer for specific legal matters. To view the full disclaimer, see our Terms and Conditions or Disclaimer section in the footer.

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Key contacts

xeniagarofalo@eversheds-sutherland.com

Xenia J. Garofalo

Partner

Washington, DC, United States

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