Dear Clients and Friends: There has been a reprieve from the impact of tax reform as a result of Senator Manchin’s “no” vote, but unfortunately it is likely short lived. The Senate is debating the Build Back Better tax and spending bill promoted by President Biden, with any changes necessitating that the Bill will be …
Dear Clients and Friends: Estate planning and tax law commentators around the country are grappling with ambiguous versions of the House bill passed on November 19. See our Alert of November 22: https://www.jckempe.com/house-bill-brings-continued-uncertainty/ . These ambiguities have been driven by incorrect versions of the bill appearing on Congressional and legislative tracking websites, such as Congress.gov …
Dear Clients and Friends: This morning President Biden announced a framework that he believes will secure unanimous Democratic approval, but details remain unknown. Democrat infighting has caused a substantial reduction in their tax and spend reconciliation proposal, which is now reduced and projected at $1.85 trillion. The extent to which this alters the House and …
