This article was originally posted on Steve Leimberg’s Estate Planning Email Newsletter as Archive Message #2846.
2020 may very well be the best opportunity to implement planning strategies to mitigate federal estate taxes and accomplish estate, asset protection and other objectives.
The Biden administration is expected to seek increased COVID stimulus in order to address the widespread consequences of the pandemic. President-elect Biden has outlined his priorities, setting forth a wish list that will require funding to accomplish. Will Congress pass tax legislation early in the Biden presidency?
President-elect Biden may be uniquely positioned by his long-standing relationships with his former Senate colleagues to pass new tax legislation. Career politicians in Washington understand that failure to deliver comprehensive measures to address the unemployment, housing, and food crises facing the nation’s populace could lead to a massive progressive wave in 2022 on a scale that could rival the 2018 elections. For these reasons, there is still so much that remains unknown about the future of taxes.
To read the full article, click here.
No related posts.