By Anthony Cammarata Jr.
With Democrats now in control of both the U.S. House and Senate, there are a host of changes to the tax laws that could be passed by Congress in the near future. President Biden's various tax proposals and intentions (collectively, the "Biden Plan") are comprehensive and contain propositions ranging from individual income tax increases to corporate tax reform, which will result in higher taxes for corporations as well. This advisory is meant to highlight some of the Biden Plan proposals for which individuals and companies should start seeking professional legal and tax-planning advice in preparation of their enactment.