The Tax Cuts and Jobs Act (TCJA) of 2017 made significant changes to the Internal Revenue Code. Some of the most notable TCJA changes include the increased lifetime estate and gift tax exemption which almost doubled the previous levels, a reduction to individual and business income tax rates, and significant increases to the standard deduction. The TCJA provisions are not permanent and are scheduled to sunset on December 31, 2025 unless Congress acts to extend them.

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