Tax planning

The Top 10 Firm's guide aims to help taxpayers and tax pros deal with the many tax changes of the past year and the ones expected to come next year.

The House passed a roughly $2 trillion bill incorporating the core of President Joe Biden’s economic agenda — ramping up funding for the social safety net and increasing taxes on corporations and the wealthy — sending it on to the Senate, where it’s likely to be significantly reshaped.

President Joe Biden’s signature plan to expand the social safety net, address climate change and rewrite tax policies passed the House Friday morning as Speaker Nancy Pelosi united fractious Democrats to send the legislation to the Senate, where its fate remains uncertain.

The House reconvened for the vote Friday after Republican leader Kevin McCarthy delayed action with a more than eight-hour floor speech.

A bipartisan group of lawmakers wants to alter who counts as brokers of crypto assets, less than a week after the current designation became law.

Sen. Bernie Sanders is working on a proposal to set an income threshold for an unlimited state and local tax deduction.

The new act impacts cryptocurrency, the Employee Retention Credit and tax deadlines.

The agency has cleared out much of its mammoth backlog of unprocessed returns, but scores of individuals and small business owners remain in limbo.

Legislators are anticipating the Congressional Budget Office projections, which will be released by Friday.

Despite a host of issues, they aim to vote this week on the roughly $2 trillion tax and spending bill.