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From a tax perspective, does the American Rescue Plan provide the promised help and relief? The tax changes in this bill are huge. Some apply to 2020 only and some apply to 2021 only. How can you understand the changes? What tax planning opportunities should your tax professional be considering? How are you the taxpayer affected in both 2021 and as we look ahead to 2022? I will explain the changes and the tax planning opportunities created by this most recent monstrosity of a bill that includes short term tax changes with some benefit now, but some benefits a year from now.
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