Biden Tax Plan

On May 28th, the White House released its fiscal year 2022 budget blueprint (the “Green Book”). As promised during President Biden’s campaign and previewed in the American Jobs Plan and American Families Plan, the Green Book proposes significant tax increases targeting large corporations and high-income individuals to pay for trillions of dollars in new spending.

The tax experts at FTI Consulting have outlined many of the higher profile tax changes that may affect individuals and businesses.

The tax changes highlighted in the article include, but no limited to, corporate rate increase, capital gains tax rate, like kind exchanges and international reforms such as Base Erosion Anti-Abuse Tax (BEAT), Interest Limitation and Global Intangible Low-Taxed Income (GILTI).

To read more, please download the article.