Proposed Legislation Update Links

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Why is the government trying to legislate our futures in the midst of tax season?! Well, it is what is it. So, I scoured The Internet to find some resources to help us all stay on top of the twisty-turny legislative environment we have in Washington.

KPMG TaxNewsFlash Legislative Updates

KPMG does a great job of keeping their clients up to date on what is happening in the world of tax proposals. This link takes you to a series of articles that go over what is currently on the table. I especially like the tables they put together to support a quick reference to the items actually making it into the bills. Here is the one for the Made in America Tax Plan and The American Jobs Plan.

GovTrack

This website is great for tracking everything being presented on the legislative floor for discussion. It also gives a handy rating of the likelihood of success. It is a look of fluff and not a lot of useful information, but occasionally a bill we actually believe will pass is presented and the confidence rating is high enough to read the bill! I recommend this site if your clients are prone to reading obscure proposed legislation and want to know how likely it will be.

The New York Times – Biden’s Infrastructure Plan

This article is a great high level breakdown of the Biden plan to tax corporations differently. It goes into why and a bit of how the Biden Administration plans to plug the ability for large corporations to shift profits to tax havens.

2021 Tax Policy Outlook: The Changing Horizon

This beautifully produced PDF goes through the current economic state leading into the tax policy decisions. It breaks down the why behind the proposals on policy and it lays out a wonderful analysis of the current political environment. This report is long, but it’s worth the read.

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Liz Mason is a serial entrepreneur, a giant nerd, and an involved accounting vanguard. She is the Founder of High Rock Accounting, Rebel Rock Accounting, TheDepartment.Tax, and a few other related brands. Liz speaks on a national stage, guests stars on podcasts, and writes frequently. To further her passion for the advancement of the accounting profession, Liz currently serves as a Xero National Ambassador and as the Content Strategist for Tax Practice News. Liz started her career in tax at Grant Thornton (at 20) and automated a portion of her job landing her in the national tax practice. She spent a decade in large public accounting firms working on highly technical tax consulting before branching off on her own. Liz utilizes her creativity and passion at her company to uproot traditional practices and replace them with innovative concepts. She finds joy in efficient technology and her core belief is that everyone and everything can continuously improve (she says "be better" too often). When Liz isn't planning world domination in accounting, she is a die-hard skier, down for any adventure, plays the ukulele, reads everything, and has a good sense of humor. If you're looking for her, you can find her traveling the world and enjoying new food and cultures with her young son. Follow Liz and High Rock Accounting on Twitter at @LizzyNorMa and @HighRockCPAs.