“The worst that happens is that you get a refund in 2018 for taxes withheld in 2017, and a 1099G for that refund will be taxable in 2018 and payable in 2019,” said Taylor. “Presumably, your tax rate will be lower in 2018, with an emphasis on 'presumably,' so you’ll have effectively saved the difference in income tax rates between 2017 and 2018.”

Other advisors are holding off on talking to clients but are closely watching the congressional proceedings.

Caitlin Chen, director of financial planning at Edelman Financial Services, which is based in Fairfax, Va., said, “Since the bill has not been passed and will likely change, we are not currently talking to our clients about the proposed bill. As it is written, the pending bill may or may not even pass.

“However, as a firm, we are closely monitoring the proposal and, should it be signed into law, we will then perform our own comprehensive analysis of these changes. We will then explain to our clients and their families how these changes can impact their own individual financial plans and what action steps may need to be taken,” said Chen, who is in the Long Island, N.Y., office.

At Warwick Rathbone, a Boise, Idaho-based RIA, advisors are trying to push off the tax conversation until they feel more certainty around potential reforms, said principal Ryan Warwick.

“It’s speculation and it’s outside of our control,” said Warwick. “We have no idea what Congress may or may not do at the end of the day, but we’re still going to be running tax-efficient portfolios.”

Two or three clients out of every 10 at PagnatoKarp, a wealth management and family office firm in Reston, Va., are asking questions about the tax proposal, according to Paul A. Pagnato, founder and CEO.

“Individuals may be motivated to accelerate any itemized deductions they can take this year rather than next because the deductions may be gone next year,” Pagnato said.

Warwick, a CPA and CFA, is keeping a close eye on whether the proposal to eliminate state and local tax deductions survives in the final version of the tax bill.

“If they take the state and local deduction away, you would assume that the alternative minimum tax (AMT) falls away also, so for the 5 million people who have to pay the AMT it doesn’t change anything,” said Warwick.