The changes start with tax years ending after December 31, 2026
What the document says“Except as otherwise provided in this subsection, the amendments made by this section shall apply to taxable years ending after December 31, 2026.”
The section applies its amendments to taxable years ending after December 31, 2026, and applies the exclusion from gross income to amounts received after that date in taxable years ending after it.
What the document actually says“Except as otherwise provided in this subsection, the amendments made by this section shall apply to taxable years ending after December 31, 2026.”
The changes start with tax years that end after December 31, 2026. Some parts are treated apart.
The income break turns on when the money is received. It must come after the same date. Both dates are fixed in the law.
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