rbynaker
Level 12

@TaxGuyBill wrote:

As for any law changes that do eventually happen, *IF* any of those changes that you listed do happen, there is NO WAY they would happen quick enough to happen for the 2020 tax returns.


Also, generally speaking, laws that *increase* taxes are not retroactive.  Chances are anything passed in 2021 would not take effect until 1/1/22.  There is a House rule that makes such a proposal out of order:

"It shall not be in order to consider a bill, joint resolution, amendment, or conference report carrying a retroactive Federal income tax rate increase."

The problem being that Congress is self-governing so it's just an extra hoop to jump through to vote to change/suspend the House rule before they vote on the actual bill if they want something retroactive.