Biden Administration’s Tax Plans

This blog was originally written as a client alert on May 18, 2021.

Questions of what the Biden administration will mean for taxes are starting to be answered. In less than four months of taking office, the Biden White House has released four separate tax proposals – the American Rescue Plan, the American Jobs Plan, the Made in America Tax Plan, and, most recently, the American Families Plan. Only the American Rescue Plan has gone through the full legislative process and been signed into law. And while the remaining plans are only in the preliminary phase, each contain significant changes to the Internal Revenue Code and operations of the Internal Revenue Service that, if enacted, will have a far-reaching impact on taxpayers, as well as their families, employees, shareholders, and investors. For a guide to assist in understanding the Biden administration’s tax proposals, see below our guide or contact Todd Betor, Jim Mastracchio, and Susan Seabrook.

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