Tax planning

Tax experts dissent the Biden budget proposal in search of planning opportunities.

Clients could end up having to pay back the money next filing season.

The White House reiterated its opposition to indexing the gasoline tax to inflation to help pay for an infrastructure plan.

The Treasury secretary suggested that if Congress were to pass a capital-gains tax hike effective starting in April 2021, that wouldn’t count as a retroactive increase.

Everlance launches a business reimbursement solution, Corvee debuts a tax planning webinar series, and SignEasy integrates e-signatures with Google Sheets.

Representative Tom Suozzi, one of the leaders in Congress behind the push for an expansion of the state and local tax deduction, is considering proposing a one-time wealth tax on the richest Americans.

The debate over how to pay for the nation’s roads, bridges and transit systems is leading some normally anti-tax Republicans to embrace higher levies on motorists.

The proposal calls for $579 billion in net new spending beyond outlays that Congress was already expected to enact.

Republican and Democratic senators said they’re open to considering the first change in the national gasoline tax since 1993 to help fund a bipartisan infrastructure spending package.

The proposed changes are worrying investors and their tax advisors, especially the possibility of making them retroactive.