News & Analysis as of

Biden Administration Gift-Tax Exemption

Katten Muchin Rosenman LLP

2022 Year-End Estate Planning Advisory

During 2022, COVID-19, the war in Ukraine, global inflation, the Tax Cuts and Jobs Act (TCJA), the uncertainty about the Build Back Better Act (BBBA), the Corporate Transparency Act (CTA), and the Inflation Reduction Act...more

Stark & Stark

Gift and Estate Tax Changes

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Throughout 2021, Congress and the Executive Branch proposed tax code changes that – had they ultimately passed – would have significantly changed various estate planning techniques. Some proposals would have sidelined a...more

Katten Muchin Rosenman LLP

2021 Year-End Estate Planning Advisory

Overview During 2021, COVID-19, the new Biden administration, the Tax Cuts and Jobs Act (TCJA), the Coronavirus Aid, Relief and Economic Security Act (CARES ACT), the American Rescue Plan (ARP), and the uncertainty about the...more

Holland & Knight LLP

House Ways and Means Committee Tax Plan Proposes Changes to Estate Planning

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The House Committee on Ways and Means has proposed a tax plan intended to fund President Joe Biden's "Build Back Better" $3.5 trillion infrastructure program. Among the many changes in this proposed tax plan are three that...more

Proskauer Rose LLP

Personal Planning Strategies - September 2021

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You have probably heard that the House Ways and Means Committee released proposals for increasing gift and estate taxes in order support legislation being advanced by the Democratic majority in Congress. ...more

McDermott Will & Emery

Tax Reform Is Coming: What It Could Mean For You

McDermott Will & Emery on

The $3.5 trillion “Build Back Better” reconciliation spending program is currently working its way through the US Congress. On September 13, 2021, the US House of Representatives Committee on Ways and Means published its set...more

McNees Wallace & Nurick LLC

Tax Planning For 2021

There is a strong possibility that 2021 will see significant changes to our tax laws. The Biden Administration and various Democratic legislators have proposed a variety of changes to our system of taxation for corporations...more

Whitman Legal Solutions, LLC

American Families Plan and Real Estate Investments – 1031 Exchanges

This article is part of a series discussing how the American Families Plan might affect real estate investments. Previous articles discussed how the American Families Plan proposes eliminating the stepped-up basis for many...more

Whitman Legal Solutions, LLC

American Families Plan and Real Estate Investments–Stepped-up Basis

This article part of a series discussing how the American Families Plan might affect real estate investments. A previous article discussed how the American Families Plan proposes to change how long-term capital gains and...more

BakerHostetler

Preparing for Biden Administration Tax Changes

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With expected passage in the next few weeks of the Biden Administration’s first COVID-19 relief bill, the focus in Washington, D.C., will shift to a second budget reconciliation bill – Biden Administration tax changes. The...more

Burr & Forman

New Tax Changes That Might Affect Your Estate Planning Strategy

Burr & Forman on

While there are many new tax policy implementations that may be imminent with the new Biden administration, there are two changes in particular that estate planning attorneys are watching closely. These include (1) a...more

Gibney Anthony & Flaherty, LLP

Use it or Lose it: Utilizing Estate Tax Exemption Before it Goes Away

The U.S. imposes an estate tax of approximately 40% on the net estate of U.S. tax residents. The current exemption from estate tax is $11,700,000 per person, leaving very few estates actually subject to the tax. Under current...more

Jackson Walker

Tax Planning for a Biden Presidency

Jackson Walker on

This past November, we outlined selected tax law changes that President-elect Joe Biden has proposed, both in speaking engagements and on his campaign website, some or all of which could be enacted in 2021 or future years. ...more

Katten Muchin Rosenman LLP

2020 Year-End Estate Planning Advisory

In 2020, COVID-19, the US presidential election, the Tax Cuts and Jobs Act (the TCJA), and the Coronavirus Aid, Relief and Economic Security Act (the CARES ACT) dominated the planning landscape....more

Levenfeld Pearlstein, LLC

Post-Election Estate Planning Updates and What to Consider Before Year-End

Now that the election is over, it looks like we are going to have a Democratic President while the control of the Senate is still uncertain. If control of the Senate remains Republican, any immediate or significant changes to...more

Jackson Walker

Tax Planning for a Biden Presidency

Jackson Walker on

With Biden as the projected President-Elect (subject to pending federal litigation and the Electoral College vote), tax planning for late 2020, 2021, and beyond is top of mind for many businesses and individuals....more

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