Overview

• Permanent lock on 2017 tax brackets and deductions is driving a surge in Roth IRA conversions as taxpayers seek to capitalize on lower rates.
• Analysts say the law’s permanent tax cuts include a standard deduction of $30,000 for joint filers, $22,500 for heads of household and a $2,200 child tax credit, reshaping individual filing strategies.
• The legislation provides a permanent 12% boost to annual 9% LIHTC allocations and establishes a Fast-Track Permitting Fund to expedite federal environmental reviews for affordable housing projects.
• Qualified Opportunity Zone deferral is now permanent with new 10-year designation periods beginning in 2027 and enhanced incentives for rural zones.
• Manufacturers and developers can immediately deduct 100% of qualified production property costs placed in service by January 2031 alongside permanent bonus depreciation and enhanced interest deductibility under the revised business interest limitation.