There has been panic in the streets over the proposed Biden tax increases, specifically the steep jump in the capital gains rate. Before jumping to any conclusions, we thought it would be helpful to review what we know and what we don’t know about these proposed tax increases.
With so many recent and coming changes in the world of taxes, we thought it would be useful to highlight some critical issues for you.
The American Rescue Plan Act of 2021 (ARP), was signed into law, the IRS moved the tax deadline for individuals, and there have been more developments with the Paycheck Protection Program (PPP).
There have been further developments and clarifications regarding the Consolidated Appropriations Act of 2021 (CAA) and the Paycheck Protection Program (PPP). These are some items we feel you should know about.
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