We thought that the 2020 tax year was unique with its challenges, legislative changes, and political strife. However, 2021 has proven to be just as unique, if not more challenging. As of the publication date of this planning letter, the $1 Trillion Infrastructure Investment and Jobs Act was passed, and the Build Back Better Act (BBBA) is making its way through Congress. The potential changes that the BBBA could bring and other legislative changes related to the ongoing pandemic continue to add an additional layer of complexity to our typical year-end tax planning. At HBK CPAs & Consultants, we want to ensure that our clients and colleagues are aware of the current and potential legislative changes, and how these changes may impact your tax situation.

We hope that the information in this letter is helpful, and we encourage you to reach out to your HBK tax advisor to discuss these planning opportunities prior to implementing any changes.