Tag: minimum tax

Tax Code, Regulations and Guidance

How long can the book last?

November 14, 2022


EXCUSE ME: Unlike the BURP, the new corporate minimum tax might last more than a moment. That’s the book untaxed reported profits adjustment from the 1986 tax overhaul that we’re talking about — the forerunner to the 15 percent minimum […]

Tax Code, Regulations and Guidance

Biden Administration Proposes a ‘Billionaires Minimum Tax’

March 28, 2022

Via: Investopedia

On March 28, 2022, the Biden Administration proposed a minimum tax on extremely wealthy taxpayers in its FY 2023 budget.1 For tax years beginning after December 31, 2022, the so-called “billionaires minimum tax” would apply a 20% tax on the […]