The Biden Administration and moderate Republicans have come to an agreement on a scaled-back infrastructure framework that drops proposed tax increases. Instead, the plan will be funded through a combination of closing the “tax gap”, redirecting emergency funds, targeted corporate... Read More
President Biden’s proposal to increase the capital gains tax has generated tremendous discussion. Looking at this proposed change in the context of past changes shows that both Democratic and Republican presidents have signed legislation with retroactive tax provisions. A retroactive... Read More
President Biden has proposed significant tax compliance measures as an alternative way to fund his ambitious American Families Plan. Recently, he offered Republicans compliance measures as an alternative to individual tax increases, but Republicans still consider new compliance measures a... Read More
State taxation of trusts varies widely, based on where a trust is set up, where the trustee resides, where the trust income comes from, and whether the beneficiaries are residents or nonresidents. In short, a trust usually must have some... Read More
The Tax Cuts and Jobs Act (TCJA) not only made major changes that grabbed headlines but also made tweaks to hundreds of tax rules, leaving taxpayers overwhelmed with questions about what their 2018 tax bill will look like and what... Read More
