On Friday, May 9, the House Ways and Means shared partial text for the tax portion of a reconciliation bill to extend the 2017 Tax Cuts and (TCJA) and make certain other tax reforms. The bill includes several key international tax provisions aimed at extending and modifying existing rules.
This blog post highlights important takeaways for planning to take advantage of the exclusion from federal taxable income of gain realized from the sale or of qualified small business .
You might know it as a or a . Maybe you’ve heard it referred to as an MOU, or memorandum of understanding. Whatever you call it, this document of about five pages is a summary of the terms of a deal the parties hope to close down the line.
