Tax planning

Senate Democrats on the Budget Committee agreed to set a $3.5 trillion top-line spending level for a bill to carry most of President Joe Biden’s economic agenda into law without Republican support, bridging divisions — for now — among some party factions.

National tax offices were flooded with more than 500 inquiries a day from their field offices after the 2017 tax law, and a confused response cost some accounting firms clients. What lessons can be learned?

Lawmakers remain divided on the size and scope of the fast-track budget reconciliation bill intended to include a raft of social spending and tax increases.

The recent change in presidency is set to bring about substantial changes in the way high-net worth individuals are taxed in relation to capital gains.

The European Union’s digital chief will meet U.S. Treasury Secretary Janet Yellen next week as the EU delayed plans for a digital levy after a potential global tax breakthrough.

The administration is aiming at trusts — particularly dynasty trusts, vehicles that wealthy families can use to benefit multiple generations of descendants.

The near doubling of the capital gains tax rate would have a large impact on the net profit from any sale of any capital asset.

It’s counterintuitive, but the cash benefit of delaying payouts can outweigh rate increases, thanks to compounding over time.

The Senate GOP Leader wants to head off an effort to use a fast-track process to pass a Democrat-only bill with trillions in spending and tax hikes on the wealthy.

Practitioners have plenty of time to advise clients on multiple savings opportunities.

Top aides to the president are reaching out to senators to convey his enthusiasm for the agreement, a White House official said.

The $579 billion infrastructure deal is a win, yet the bipartisan plan faces hurdles in Congress that reflect challenges to the president's broader economic agenda.

The cost of the expenditures would be offset by a variety of revenue-raising provisions, including stronger enforcement of tax collections from the wealthy.

Taxing jurisdictions are less anxious about revenue — but they’ll be more focused on sales tax than before.

A combination of high valuations on companies and potentially higher taxes in the future is proving to be a potent motivator for selling private companies.

Tax experts dissent the Biden budget proposal in search of planning opportunities.

Clients could end up having to pay back the money next filing season.

The White House reiterated its opposition to indexing the gasoline tax to inflation to help pay for an infrastructure plan.

The Treasury secretary suggested that if Congress were to pass a capital-gains tax hike effective starting in April 2021, that wouldn’t count as a retroactive increase.

Everlance launches a business reimbursement solution, Corvee debuts a tax planning webinar series, and SignEasy integrates e-signatures with Google Sheets.