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The new tax law, sorted: what stays, what ends and what already ended

Public Law 119-21, commonly called the One Big Beautiful Bill Act, mixes lasting rules with ones that stop in 2028, 2029 or sooner. Here is the whole sort, with the year or amount that goes with each piece.

Prepared by Prem Tax and Accounting Corp. Last reviewed November 6, 2026. Figures as of November 6, 2026.

Not everything in Public Law 119-21 lasts. Some rules have no end date, some have a last year written in, and some energy credits are already gone. The Last-Year Label Sweep is how we sort them: find each rule you rely on, read its label below, and put its date on your calendar. Our overview lists the guides.

The short version

Settled law, signed July 4, 2025. No short title appears in the enacted text, and the IRS site now says Working Families Tax Cuts.
Permanent means no end date in the law. Amounts can still index, and Congress can still change a rule.
The four new deductions last through tax year 2028. The higher SALT cap lasts through 2029.
As of November 6, 2026, no later law has changed the tips, overtime, senior, car-loan or SALT rules.

The sort, rule by rule

Rule	Label	Year or amount	Act section
Rates of 10% to 37%	Permanent	Bracket tops index each year	70101
Standard deduction	Permanent	2026: $16,100 single, $32,200 joint	70102
Child tax credit	Permanent	2025 and 2026: $2,200; 2027: $2,300	70104
199A business deduction	Permanent	20%; minimum $400 in 2026, $415 in 2027	70105
Estate and gift exemption	Permanent	2026: $15,000,000	70106
100% bonus depreciation	Permanent	Property acquired after January 19, 2025	70301
Charity changes	Permanent	From 2026: $1,000 ($2,000 joint) for non-itemizers; 0.5% floor for itemizers	70424, 70425
Senior deduction, $6,000 each	Temporary	Last tax year 2028	70103
Tips, up to $25,000	Temporary	Last tax year 2028	70201
Overtime premium, up to $12,500 ($25,000 joint)	Temporary	Last tax year 2028	70202
Car-loan interest, up to $10,000	Temporary	Last tax year 2028	70203
Higher state and local tax (SALT) cap	Temporary	2025: $40,000; 2026: $40,400; final higher year 2029	70120
Electric vehicle credits	Ended	Vehicle acquired after September 30, 2025	70501 to 70503
Home energy credits 25C and 25D	Ended	Installed or placed in service after December 31, 2025	70505, 70506
Charger credit, new-home credit, 179D deduction	Ended	After June 30, 2026 (179D: for projects started later)	70504, 70507, 70508

Dates that matter what changes

September 30, 2025Last day to acquire a vehicle for EV credits
June 30, 2026Charger credit, new-home credit and 179D cut-offs
December 31, 2028Last tax year for the four new deductions
December 31, 2029Final year of the raised SALT cap
January 1, 2030The SALT cap drops back to $10,000

Source: enacted text of the law

Amounts that index are reset each fall by an IRS revenue procedure, and the 2027 amounts came out November 5, 2026. The four deductions' caps do not index.

The Last-Year Label Sweep

List the rules that matter to your household or business.
Mark each one Permanent, Temporary (with its last year) or Ended.
Look again each fall, when next year's amounts arrive.
Ask your adviser what an end date does to your plan.

Common questions

What is the law actually called?

Public Law 119-21, with no short title in the enacted text. The House bill used "One Big Beautiful Bill Act", and IRS notices say it with commas.

Which rules end first for a family?

The vehicle and home energy credits already ended. Next come the four deductions after tax year 2028 and the higher SALT cap after 2029. Invented example: Ana, who turns 65 in 2027, can claim the senior deduction for 2027 and 2028 only. See our [sunset countdown](/current-topics/year-end-2027/sunset-countdown/).

Can Congress extend an end date?

Only Congress can. A bill for the senior deduction sits in committee and is not law.

Official sources

Keep reading

Please read: general information only

This page gives general information and education about current federal and state tax topics, including recent legislation, planning ideas, retirement and annuity rules, and court decisions. It is not tax, legal, accounting, investment, insurance or other professional advice, and it is not a substitute for advice from a qualified CPA, attorney or other adviser who knows your facts. Reading it does not create a CPA-client or any other professional relationship with Prem Tax and Accounting Corp. Prem Tax and Accounting Corp is a CPA firm, not a law firm. It does not sell insurance or investment products, and it does not recommend, rate or sell any annuity, fund or other product. A planning idea, a strategy name or an example here is not a recommendation to take or avoid any action.

Tax rules, thresholds, rates and deadlines change often, and Congress, the IRS, the courts and the states change how they apply them. Guidance on recent legislation is still being issued. We checked the figures against the official sources named on the page on the date shown (last reviewed November 6, 2026), but we do not promise that this page is complete, current or free of errors, and we do not update it the moment a rule changes. Where the rules are unsettled or guidance is still pending we say so. Amounts for a future year are labelled planning figures until the IRS or another agency publishes them. Examples use invented numbers and are for illustration only.

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Questions about how the new tax law or your year-end moves apply to you? Keshav Agrawal is a U.S. CPA and a Chartered Accountant (CA) from India. We prepare U.S. and Illinois returns, plan with you, and work alongside your financial adviser, insurance agent or attorney. We sell no investment or insurance products. Book a 10-minute call or send us a message.

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