On April 28, 2021, President Biden announced the American Families Plan, a $1.8 trillion proposal that would fund a number of education and childcare projects. To pay for these proposals, the American Families Plan includes the following tax proposals.
This article summarizes the American Jobs Plan and the Made in America Tax Plan.
A recent private letter ruling provides a potential roadmap for distressed taxpayers seeking to work out the debt of their disregarded entities.
IRS guidance clarifies the tax treatment of a typical hard fork.
In two cases concerning deferred remuneration arrangements, the First-tier Tribunal recently held that amounts allocated to a corporate member of a limited liability partnership and subsequently reallocated to individual members were chargeable to income tax in the year of reallocation notwithstanding that such amounts have already been subject to corporation tax.
The Biden administration has reengaged in the OECD/G20 two-pillar project with proposals for both pillars, but several issues remain.