Senate Finance Committee Build Back Better language largely leaves House Bill unchanged. SALT language omitted as well as billionaires’ tax.
After intense negotiations, some provisions were eliminated while others were rewritten in an effort to appease all Democratic members.
House Ways and Means issues its discussion draft amendment with revenue items to offset $3.5 trillion spending package.
New guidance and dedicated website provide instruction to taxpayers electing into the pass-through entity tax workaround.
Summary of the American Families Plan and the potential impact that it could have on the real estate industry.
Biden’s plan to grow the middle class, expand economic growth to all Americans and leave the US more competitive funded with tax changes.
Managing significant tax changes will ensure individuals and businesses are positioned for success for the remainder of 2021 and beyond.
From retroactivity to loss of planning techniques, this year we face a unique set of concerns when considering gift and estate planning.
Taxpayers should familiarize with Biden’s plan, remain vigilant for developments and position themselves to act at the appropriate times.