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2021 Tax Outlook: Proposals & Planning - Taxation News

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Tax News


Posted on: Dec 30, 2020

From Inside Indiana Business:

The US government's fiscal year ended on September 30, with the Congressional Budget Office (CBO) projecting the US deficit to be roughly $3.13T, or 15.2% of GDP. With discussions of future stimulus circulating throughout Washington, deficit figures will likely continue to grow. So, how are these escalations curtailed? The government could stop spending at unsustainable levels or they could raise taxes. Using history as our guide, the latter option will likely prevail in some form. 

Let’s look at what has been proposed and the potential impact on your financial plan. Check it out here.

If you would like to submit content or write an article for the Tax Section, please email Kara Sikorski at ksikorski@indybar.org.

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