Legislative Updates & Considerations - 2024 Election Year - Tax Cut and Jobs Act (TCJA) Sunset Provisions

Sep 19, 2026

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Legislative updates and considerations for 2024 focus on the Tax Cuts and Jobs Act (TCJA) and its key sunset provisions. The material summarizes 2017 changes to the U.S. tax code, including individual tax rate and bracket adjustments, reduced corporate income tax rates, and limits affecting deductions, credits, and phaseouts. Separate sections address key nonprofit excise taxes and excess compensation impacts, plus individual, corporate, and other sunset changes such as expiration of certain provisions, bonus depreciation, qualified business income effects, AMT exemptions, and charitable giving limitations.

LanguageEnglish

CategoryPresentations

FormatPDF

Pages56

Reading Time20 min

AccessFree to download

Legislative Updates & Considerations: 2024 Election Year

TCJA Background and Key Provisions

TCJA – Key Nonprofit Provisions

TCJA – Sunset Provisions (Individual)

TCJA – Sunset Provisions (Corporate)

TCJA – Sunset Provisions (Other)

[a r m a n i n o . c o m](a r m a n i n o . c o m) © Armanino LLP. All Rights Reserved | Possible (Re)Defined Legislative Updates & Considerations: 20 24 (Election Year ) M a tt Petro ski , Ta x Pa r tn er [a r m a n i n o . c o m](a r m a n i n o . c o m) © Armanino LLP. All Rights Reserved | Possible (Re)Defined A R MA NI NO Tax Cut s and Jobs Act (TCJA) [a r m a n i n o . c o m](a r m a n i n o . c o m) TCJA Sunset Provisions © Armanino LLP. All Rights Reserved | Possible (Re)Defined [a r m a n i n o . c o m](a r m a n i n o . c o m) TCJA-Background 2017 significant changes to the Tax code Key Provisions 􀂾Changes to individuals tax rates and brackets 􀂾Reduction in the Corporate Income Tax Rates 􀂾Changes and limitations on certain deductions, credits, and phaseouts [a r m a n i n o . c o m](a r m a n i n o . c o m) TCJA – Key Nonprofit Provisions IRC 4960 Excess Compensation Excise Tax Parking Tax NII on certain UBI Segregation university endowments [a r m a n i n o . c o m](a r m a n i n o . c o m) TCJA – Sunset Provisions-Individual | | Tax Rates – Add chart | | | --- | --- | --- | | | | | | | | | | | Standard Deductions | | | --- | --- | --- | | | | | | | Itemized Deductions | | | --- | --- | --- | | 􀂾 SALT Cap
􀂾 Mortgage Interest Deduction
􀂾 Miscellaneous Itemized | | | | | Other | | | --- | --- | --- | | | | | | 􀂾 Child Tax Credit, Personal Exemptions, AMT Exemption and phaseout | | | [a r m a n i n o . c o m](a r m a n i n o . c o m) Individual Tax Rates | Prior Law | TCJA | | --- | --- | | 10% | 10% | | 15% | 12% | | 25% | 22% | | 28% | 24% | | 33% | 32% | | 35% | 35% | | 39.6% | 37% | These tax rates will sunset Dec. 31, 2025 [a r m a n i n o . c o m](a r m a n i n o . c o m) TCJA – Sunset Provisions-Corporate Tax Rates Rate Reverts to 35% from 21% Bonus Depreciation IRC section 168(k) Qualified Business Income 20% deduction no longer available (IRC section 199A) AMT exemptions [a r m a n i n o . c o m](a r m a n i n o . c o m) TCJA – Sunset Provisions-Other Charitable Giving 􀂾 AGI limitation for cash contributions back to 50% 􀂾 Impact of changes in standard deduction Estate and Gift Exemptions | | Individual | Married | | --- | --- | --- | | 2024 | $13.61M | $27.22M | | 2026 (Projected) | $7M | $14M |

FAQs

What are the core TCJA changes discussed in the presentation?

The slides outline major 2017 changes including updates to individual tax rates and brackets, reductions to corporate income tax rates, and modifications that limit certain deductions, credits, and phaseouts.

Which nonprofit-related TCJA provisions are highlighted?

The presentation lists TCJA nonprofit excise-related topics such as IRC 4960 excess compensation, excise tax categories including parking tax, and NII impacts tied to certain UBI segregation involving university endowments.

What sunset effects are covered for individuals, corporations, and other areas?

For individuals, the slides note tax rate sunset timing (including sunset after Dec. 31, 2025) and changes tied to standard and itemized deductions and credits. For corporations, rates are described as reverting, and for other areas, charitable giving limits and estate and gift exemption changes are summarized.

Sep 19, 2026

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