Although the incoming Biden administration has put forth bits and pieces of a variety of potential tax reforms and incentives, two focus areas have clearly emerged—a reduction or rollback of certain provisions of the 2017 Tax Cuts and Jobs Act and a focus on clean energy and reducing carbon emissions (while promoting US-based manufacturing). Policy initiatives, as aspirational concepts, and the ability to effect tax reform are distinct topics; however, taxpayers ought to have an understanding of what is potentially at stake, which this Legal Update discusses.
The full Legal Update is at the link below