From the Families First Coronavirus Response Act (FFCRA) to the Coronavirus Aid, Relief, and Economic Security (CARES) Act, to the Consolidated Appropriations Act, 2021 and the American Rescue Plan Act, there’s been a lot to keep up with. The Biden administration has now proposed many new tax changes that would further complicate business tax planning. In light of these changes, midyear tax planning is more important than ever before.Our experts will begin by highlighting the tax opportunities and incentives that are currently available for 2021. Many of these will require actions to maximize benefits before the end of the year. They will then turn to the tax proposals from the Biden administration currently being considered by Congress. While the final details are yet to be determined, it’s now time to consider what tax planning opportunities may exist in an era of expected tax changes.
Learning objectives:
- Define which recent tax changes are most important to focus on during 2021.
- Develop an understanding of the tax changes that might be coming this year and their expected impacts.
- Evaluate the factors that will shape current tax planning options during a time of future tax uncertainty.
- Understand the key events that organizations should pay attention to now rather than later in the year.
