President Biden released his budget proposal for the coming 2023 fiscal year on March 28, 2022. Coming off the heels of the stalled Build Back Better Act, will the President try to work elements of the BBBA into the budget?
The budget proposes a new minimum tax on billionaires. How will these taxes be implemented though? Will the budget propose an amendment to Qualified Small Business Stock (QSBS) similar to the BBBA amendment?
This article does not constitute legal or tax advice. Please consult with your legal or tax advisor with respect to your particular circumstance.