Navigating the uncertain fates of Build Back Better and key tax issues
Uncertainty about significant tax changes proposed in the Build Back Better bill require attention and action from taxpayers.
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Senate Finance releases Build Back Better text
Senate Finance Committee Build Back Better language largely leaves House Bill unchanged. SALT language omitted as well as billionaires’ tax.
Family offices and tax changes: Considerations from the House proposal
Family offices affected by income and transfer tax increases on individuals, estates and trusts proposed by House Ways and Means Committee.
House Ways and Means releases reconciliation tax payfors
House Ways and Means issues its discussion draft amendment with revenue items to offset $3.5 trillion spending package.
Senator Wyden’s draft proposals target partnership tax rules
Senator Wyden’s recent ‘discussion draft’ legislation, if enacted, would drastically alter many of the tax rules that apply to partnerships.
New IRS guidance on ADS recovery period of residential rental property
Guidance provides procedures to implement the retroactive 30-year ADS recovery period for residential rental property.
G7: Groundbreaking steps to a 15% global minimum tax
During conversations on Saturday June 5, 2021, the G7 made historic strides toward multilateral agreement on a 15% global minimum tax rate.
A Biden tax plan update: What, when and how?
New details of President Biden’s tax plan are shaping congressional negotiations and middle market considerations.
The American Families Plan & its impact on the real estate industry
Summary of the American Families Plan and the potential impact that it could have on the real estate industry.
President Biden unveils his American Families Plan
Biden’s plan to grow the middle class, expand economic growth to all Americans and leave the US more competitive funded with tax changes.
2021 Gifts – Buyer beware of the risk of retroactivity
From retroactivity to loss of planning techniques, this year we face a unique set of concerns when considering gift and estate planning.
President Biden’s tax plan
Taxpayers should familiarize with Biden’s plan, remain vigilant for developments and position themselves to act at the appropriate times.
IRS partially finalizes passthrough interest limitation regulations
Final regulations address self-charged interest and trading partnerships, but reserve on tiered partnerships and other items.
IRS releases final regulations on like-kind exchanges
The final regulations broaden the definition of real property compared to the more restrictive definition in the proposed regulations.
2020 year end tax considerations for businesses
Tax planning opportunities for consideration in light of COVID-19, the resulting economic crisis, and evolving tax laws and regulations.
IRS extends time to make 163(j) real property business elections
Provides more time to elect out of 163(j) interest deduction limitation for taxpayers with certain real property or farming businesses.