Simply put, taxpayers will be able to benefit from many of the tax changes in 2025, although they might not notice the changes until they file taxes next year.

The White House has said workers benefiting from the deduction could see up to $2,000 in annual federal tax savings.

The GOP megabill has new tax breaks aimed at low- and moderate-income households, and spending cuts that could make it harder for some to receive public assistance or hold onto health insurance.