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The thing that is most striking to me about your explanation is that the change was made six years ago; it seems that anyone responsible for a company's tax position and cashflow (CFO, accountant, etc) should have been planning for this between then and now. Much like the SVB panic, a great deal of this seems to be people running companies without either paying attention to things that could have a significant impact, or hiring someone who does.


When I took tax law, one of the things that blew my mind is that it can be retroactive.

An exemption might expire, but then be retroactively reinstated. This happens all the time.

There is the tax law that applies to your 2022 income now, and then there's the tax law that will apply to your 2022 taxes in five years.


They have been. Large companies have been engaging with Congress since 2019 on this, reminding them that they intended to revert this before it took effect. CFOs wrote a letter to Congress in November. https://investinamericasfuture.org/Communications/letters/


Maybe they put too much trust in the US congress' functioning




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