Soon, the U.S. House and Senate will return to session following the Fourth of July congressional recess, a symbolic deadline previously touted by Democratic leaders for significant advancement of tax priorities.
Where do things currently stand? Has Congress been able to stay on track? What hurdles remain? And what is the expectation around potential effective dates, including the retroactive increase on capital gains that President Biden has endorsed?
Our tax policy and Washington National Tax teams, comprised of veteran tax professionals—many with IRS and Treasury backgrounds—are closely tracking developments on Capitol Hill and the effects those developments may have on the middle market.
Watch the recorded webcast below where we share what has evolved, what’s new and, most importantly, things you should be considering as potential tax legislation commands the spotlight over the critical summer legislative period.