Tax Code Provisions WIth Expiration Dates in 2022 to 2027

It is much easier in the U.S. political system, especially if there is divided control in Congress after the midterm elections which is a very realistic possibility, to leave the status quo in place than to enact new legislation to extend or replace it. 

Over the next few years, especially 2025, a large share of Trump tax cuts for big businesses and wealthy individuals, most notably the 20% deduction for income from pass through entities, will expire of their own accord if they are not extended. Allowing them to expire could be a powerful tool for Democrats seeking greater tax equity.

Provisions Expiring in 2022

 50% Rate for Railroad Track Maintenance Other Temporary Provision

 Full Deduction for Business Meals Provisions

Expiring in 2025

 Special Expensing Rules for Certain Film, Television, and Live Theatrical Productions

 Seven-Year Recovery Period for Motorsports Entertainment Complexes

 Empowerment Zone Tax Incentives

 New Markets Tax Credit

 Employer Tax Credit for Paid Family and Medical Leave

 Work Opportunity Tax Credit

 Transfers of Excess Pension Assets to Retiree Health and Life Insurance Plans

 Look-Through Treatment of Payments Between Related Controlled Foreign Corporations Other Temporary Provisions

 Deductibility of Employer De Minimis Meals and Related Eating Facility, and Meals for the Convenience of the Employer  

 Higher Exclusion Rates for GILTI and FDII

 Lower Tax Rates and Credits for BEAT

 20% Deduction for Pass-Through Businesses

Other Temporary Provisions Expiring in 2026

 Limit on Excess Business Losses of Noncorporate Taxpayers

 First Year Depreciation

 Additional Depreciation for Trees Producing Fruits and Nuts

 Election to Invest Capital Gains in an Opportunity Zone

Other Temporary Provision Expiring in 2027

 Citrus Plants Lost by Casualty

From the Congressional Research Service (May 24, 2021 report).