Wealthy families are rushing to transfer assets to their children before potential estate tax increases if Kamala Harris wins the presidency and current exemptions expire in 2025.
Wealthy taxpayers
Breaking News
The IRS will close a major tax loophole used by wealthy taxpayers to avoid paying taxes, potentially raising over $50 billion in revenue over the next decade.
The audit rate for large corporations with assets exceeding $250 million is expected to almost triple, rising from 8.8% in 2019 to an estimated 22.6% by 2026.
