Tax rates

'It doesn't have to be exactly' 28 percent, the president said, in a signal that a final package could well have a lower rate.

With the tax recognition deadline of Dec. 31, 2026, still in place, taxpayers who wish to invest unrecognized gains in QOZs need to do so prior to Dec. 31, 2021, in order to obtain any step-up in basis benefit.

The president's promise to start narrowing income and wealth gaps underpins every part of his economic program.

The proposed top 39.6 percent tax bracket in the administration's “American Families Plan” would encompass less than 1 percent of taxpayers.

The president is on the road to sell his plans to build infrastructure and invest in education, child care and other priorities.

The proposal won’t affect couples with incomes below $400,000 — but could impact couples who together exceed that threshold.

The president declared the U.S. has turned the corner on a pandemic that’s killed more than half a million Americans.

The president called for higher taxes on the rich to fund a massive investment in the nation’s social safety net.

The sweeping $1.8 trillion plan would be funded in part by the largest tax increases on wealthy Americans in decades.

President Joe Biden’s coming tax package will feature an end to a major benefit for wealthy estates that drastically minimizes the levy for inheritors, along with a bump up in the top income tax rate and funding for strengthened IRS auditing, according to a person familiar with his proposal.