Tax
Jan. 22, 2024
$80 billion bipartisan tax plan in the works
The deal provides three key tax breaks that Southern California businesses have been pursuing, and double taxation has been eliminated against companies operating in both Taiwan and the United States.
Phil Jelsma
Partner and Chair of the Tax Practice Team, Crosbie Gliner Schiffman Southard & Swanson LLC (CGS3)
Email: pjelsma@cgs3.com
Phil is chair of the tax practice team at CGS3. He is recognized as a leading joint venture and tax attorney, with a 30-year background in real estate exchange transactions, syndications, nonprofit corporations and international tax planning.
In a rare bipartisan move, Democrats and Republicans in the House and Senate have unveiled a long-sought tax bill – the Tax Relief for American Families and Workers Act (the “Act”) – that renews certain business tax breaks and includes an expansion of the Child Tax Credit.
Lawmakers on both sides of the aisle have been rushing to pass the bill in order to avoid a looming government shutdown – enacting a separate short-term stop-gap spendin...