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Kiplinger
Kiplinger
Business
Kate Schubel

Why You May Owe More Tax Soon on Popular Employee Benefits

Sandwich, bottled water, and green apple on an office desk with a monitor and paper tray in the background.

A flurry of activity followed the president into his second term, and with all the noise came something perhaps unexpected: The House Committee on Ways and Means agenda slashing certain tax benefits. The 50-page GOP document, first released by Politico and other news outlets, is seen as a roadmap for funding an extension of the Tax Cuts and Jobs Act (TCJA).

Basically, to pay for the “Trump tax cuts” sacrifices have to be made. According to the document, that could mean getting rid of certain employee benefits amounting to $157 billion over 10 years.

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