I filed a tax extension for my 2016 taxes, but I just heard Trump announced a new tax proposal; will my 2016 taxes change?
No. You are encouraged to file your 2016 taxes as you normally would. Although a new tax proposal was announced April 26, tax laws for 2016 remain unchanged. Until Congress passes new laws or federal agencies issue new guidance, current tax laws continue to apply. If tax laws change, TurboTax will be up to date with the latest tax laws as usual.