Business, Management and Accounting
4 years ago

Congress Must Act: Tax System Changes Allow for Asset Basis Maximization

2 views
SSRN Electronic Journal
Determining an Asset's Tax Basis in the Absence of A Meaningful Transfer Tax Regime
Jay A. Soled, Richard L. Schmalbeck

Paper Summary

The article discusses how changes in tax laws have made it easier for taxpayers to increase the value of their assets for tax purposes. In the past, high transfer taxes discouraged this, but now, with lower rates and exemptions, taxpayers can maximize their asset basis without consequences. This could lead to a decrease in tax revenue unless reforms are made.

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