Be Ready for Big Changes: 2021 Tax Planning

Be Ready for Big Changes: 2021 Tax Planning

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Some fear that these tax increases will be retroactive to January 1, 2021, which is certainly possible. The last time a significant tax increase was enacted retroactively was in August 1993, when the Omnibus Budget Reconciliation Act included an increase in the top estate tax rate from 50 percent to 55 percent, retroactive to January 1, 1993.

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