Please note: This blog is current to the date of its publication, Thursday, June 17. For additional updates or assistance navigating these uncertain times, please contact us or visit our SST COVID-19 resource page.
The Journal of Accountancy recently published a comprehensive article outlining the Biden administration’s proposed budget for fiscal year 2022.
Part of the proposed budget includes individual and corporate tax increases and other tax-related incentives to support the administration’s initiatives, such as housing and infrastructure and clean energy. Read more about the proposed changes in the article below:
At this time, there is uncertainty if any of the individual and corporate tax changes will be effective for the 2021 tax filing. SST will keep you informed as the changes develop.
For additional tax information and guidance, contact the experts at SST today.