Most individual tax provisions in the 2017 tax reform law expire after 2025. They include tax rates and bracket changes, higher standard deductions, repeal of personal exemptions, the $10,000 cap on deducting state and local taxes on Schedule A, and others that we wrote about on page 1 of our March 28 Letter.
But a few changes affecting individuals do not expire, including these: Repeal of the penalties under Obamacare’s individual mandate for post-2018 years. Allowing tax-free distributions from 529 college savings accounts of up to $10,000 per student per year to help pay tuition for K-12 education. (This $10,000 annual cap does not apply to 529 plan withdrawals to pay for college.) Plus the alimony changes.