The sunset law of the Tax Cuts and Jobs Act (TCJA) refers to the scheduled expiration of many of the law’s individual tax provisions after December 31, 2025. When Congress passed the TCJA in 2017, it made the corporate tax cuts permanent, but set a sunset date for most individual tax cuts, including lower income tax rates, a higher standard deduction, increased child tax credit, and the cap on state and local tax (SALT) deductions. As a result, unless new legislation is passed, tax rates for individuals will revert to pre-2018 levels in 2026. Middle- and upper-middle-income households (value of $1 Million+) have generally benefited most from the TCJA’s temporary provisions, particularly through lower marginal tax rates and a doubled standard deduction. These taxpayers may see a significant tax increase after the sunset if the law is not extended or revised.

If you donate over $10,000 to the Catholic Foundation either in a planned gift, over 5 years, or at once, you can establish an endowment to exist in perpetuity for the Catholic parish, ministry, or school that means most to you.

Join our Major Gifts Officer, Analisa Cordova Silverstein, for a complimentary luncheon seminar on June 3rd at 11:30 a.m. at the El Paso Country Club Mixed Grill located at 5000 Country Club Place to learn more about this provision with Financial Advisor, Javier Zubiate, of Crown Wealth Strategies.

You can register for this free event by calling 915-872-8412 or by registering here!