May 18, 2021
Proposed Estate, Gift and Income Tax Law Changes may Fundamentally Alter the Tax Landscape
In the midst of an already tumultuous year, recent proposed changes to the estate, gift and income tax laws are likely to inject further tumult. These changes are included in several tax bills and White House proposals, namely: “For the 99.5 Percent Act” proposed by Senator Bernie Sanders, the “Sensible Taxation and Equity Promotion Act of 2021” (STEP Act) proposed by Senator Chris Van Hollen and “The American Families Plan” proposed by President Joe Biden.