A sharply divided Congress is facing significant challenges in order to raise revenue and meet President Biden’s priorities. While no one pretends to have a crystal ball, some changes are likely coming this fall and winter. Depending upon what compromises can be reached, ideas for reform range from changing step-up-in-basis rules and pass through regulations to significant changes in corporate taxation. Meanwhile in Brussels, a movement is growing among national leaders to establish global minimum corporate taxes and other significant changes to the global tax system. What is a practitioner to make of all this? What do we need to prepare for?
Listen to our our panel of experts dissect and explain some of the most impactful potential tax reforms of 2021.