On Wednesday (January 31, 2024), the U.S. House of Representatives passed HR 7024 – The Tax Relief for American Families and Workers Act of 2024. This $78 billion tax package passed in the House with an 83% approval rate and now makes its way to the Senate. Highlights of HR…
Below are the latest developments from the tax landscape, and this time, it’s a bipartisan effort led by the House Ways and Means Committee and Senate Finance Committee. Let’s dive into the key highlights:Key Provisions: Full Expensing of Domestic Research Costs: Extended until 2026, including the current and upcoming tax…
