In July, we wrote about how President Biden’s Green Book had proposed limitations on IRS Section 1031 Exchanges. That focus may have changed recently. It is anyone’s guess which policies from President Biden’s new tax plan will survive Congress, but on September 13,...
PDFReleased: September 17th, 2021 KJK's Jennifer Hart breaks down the Democratic tax proposal in a chart comparing current tax law with what Democrats are proposing to: Increases in Taxes Related to Estate Planning & Retirement Rate Changes & New Taxes Other...
Leading Democrats in the U.S. House of Representatives on Monday released proposed tax-increase legislation that rolled back several of President Biden’s key initiatives, but continued to call for higher tax rates on corporations, highly compensated business owners...
On Tuesday, August 24, the US House of Representatives moved President Biden’s $1 billion infrastructure package and proposed $3.5 billion budget closer to passage. While the infrastructure bill has bipartisan support, the budget remains highly divisive, with some...
On August 10th, the US Senate passed the bipartisan Infrastructure Investment and Jobs Act (“Infrastructure Bill”). While much of the Infrastructure Bill focuses on funding for roads, bridges, electric vehicles, high-speed internet, and modernization of electrical...
You can view an updated version of this article here. Real Estate Investors Beware President Biden’s Green Book was released on May 28, 2021, and the tax reforms include a proposal to limit the deferral of gain on the exchange of real property used in a trade or...
Changes are potentially coming to the popular tax deduction for conservation easements with the introduction of The Charitable Conservation Easement Program Integrity Act (“Act”) by Congress by Rep. Mike Thompson (D-CA) and Sens. Steve Daines (R-MT) and Debbie...
Earlier this month, Gov. Mike DeWine signed the 2022-2023 biennial Ohio budget into law. While the bill primarily focuses on various budget items for each agency, it also includes a number of provisions dealing with tax law changes. These changes included reductions...
Yesterday, the U.S. Supreme Court declined to take up the case of New Hampshire v. Massachusetts (No. 220154). The New Hampshire v. Massachusetts case resulted from a pandemic-related, temporary rule, adopted by the Commonwealth of Massachusetts that sought to...
Gov. Mike DeWine has signed the 2022-23 Ohio budget into law, producing notable income tax provisions for Ohioans. The nearly 1,000-page budget includes plans for additional funding to schools, grant programs to help Ohioans obtain internet services and additional...