Additional Guidance Issued for President Biden’s American Jobs and American Families Plan
By EsqSocial Corporation 08/06/21
In April 2021, President Biden announced the “American Families Plan,” which included some significant tax law changes. Among the proposed changes included in the “American Families Plan” was the increase of the tax rate that would apply to long-term capital gains, significant limitations on the amount of gain that could be deferred on the sale of real estate under the like kind exchange rules of Section 1031 of the Internal Revenue Code (the “Code”) and a proposed tax event on certain...
By: Polsinelli