The Trump tax cuts, which were enacted in 2019, have faced multiple delays in the courts.
That’s partly because of a disagreement between the Treasury Department and the Republican-controlled House of Representatives over whether they should be considered income for federal tax purposes.
A ruling on the future of the cuts could come as early as this week.
But, according to The Wall Street Journal, the tax cuts are not expected to be considered taxable in 2019.
In addition, Congress is expected to pass a tax overhaul later this year that would cut the corporate tax rate to 20 percent from 35 percent, as well as eliminate the estate tax.
The Trump administration is also expected to roll back some of the rules governing how companies treat their foreign profits.
Companies that move profits overseas to reduce tax bills will be able to use the repatriation rules to pay taxes on that overseas income.
The Trump administration will also allow companies to repatriate billions of dollars that have been held overseas.
In a recent interview with CNBC, Treasury Secretary Steve Mnuchin said that the tax reductions would be “in effect for the first year” of the tax reform.
If they pass, the corporate and estate tax cuts would expire in 2025.