Audits will be focused on aircrafts used by large corporations, large partnerships and high-income taxpayers with a look at allocation between business and personal use.
The Tax Cuts and Jobs Act (TCJA) of 2017 was the most comprehensive update to the federal tax code in more than 30 years. Although the primary goal of the reform was economic growth and job creation, an important secondary goal was making the federal tax code more neutral toward state tax policy.
On November 19, 2021, the U.S. House of Representatives voted to approve the Build Back Better Act (H.R. 5376, the “BBB Act”), the budget reconciliation bill that includes much of.
On October 28, 2021, US President Joe Biden unveiled his slimmed down $1.75 trillion infrastructure spending plan and congressional leadership released H.R. 5376 (the Build Back Better.
Joe Biden unveiled his slimmed down $1.75 trillion infrastructure spending plan and congressional leadership released BBBA which contains revised proposals for tax law changes to pay for the various pieces of President Biden’s new agenda.