A closer look The Changing Tax Landscape
May 21, 2021
- Tax rates appear likely to move higher in the near term. Several of the proposed tax changes would be material if enacted, including increasing the top long-term capital gains tax rate and eliminating basis step-up upon gift or death.
- That said, the tax changes ultimately passed may well be more moderate than many are currently anticipating, and even passage as proposed would not likely be enough to dramatically slow the economy.
- In this A Closer Look, we examine the potential investment and planning implications of the various proposals, but it is too early to tell what changes will actually be enacted.