Provisions of the Tax Cuts and Jobs Act Expiring in 2025

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You may have heard credit union advocates describe 2025 as a “big tax year.” The Tax Cuts and Jobs Act (TCJA) of 2017 included significant changes to the tax code. Many of these changes were enacted on a temporary basis and are set to expire at the end of 2025. Here’s an outline of the most significant provisions set to expire:  

• Standard deduction 
• Individual income tax rates 
• State and local tax deduction  
• Child tax credit  
• Deduction for small business income 
• Alternative minimum tax 
• Estate taxes 

As Cornerstone and system partners look to 2025, protecting credit unions’ tax exemption is one of our top advocacy priorities. We are also closely watching and advocating for provisions that benefit credit unions.

Read more about the tax provisions set to expire next year.