On Monday, September 13, 2021, the House Ways and Means Committee released draft legislation, which represents a major step toward anticipated tax law changes. The draft legislation scales back some of President Biden’s proposals 并包括一些新的改变，目的是在众议院和参议院的民主党核心小组中获得必要的共识. 这项立法草案中的所有修改建议将于明年1月1日生效, 2022, 只有两个值得注意的例外:资本利得税税率和授予人信托待遇的改变.
这只是未来几周谈判和协议的开始. As such, 随着参议院提出自己的预算法案，这项立法很可能会改变并继续演变. 然而，它确实为税法未来的变化方向提供了一些明确. 以下是条例草案的摘要，以及我们会继续监察的条文.
Draft Proposals: Individual Tax and Pass-Through Entities
- Income tax rate: Increases the top marginal tax rate from 37 percent to 39.与2020年相比，最高税收等级适用的应税收入水平降低了6%. 这些改变将于2022年1月1日对纳税人生效，具体如下:
- Married filing jointly with taxable income over $450,000;
- Heads of household with taxable income over $425,000;
- Unmarried individuals with taxable income over $400,000;
- Married individuals filing separately with taxable income over $225,000; and
- Trusts or estates with taxable income over $12,500.
- Capital gains tax rate: 将9月13日或之后产生的最高资本利得率从20%提高到25%, 2021. This provision does not apply to a sale that closes after September 13, 2021, 前提是该交易在该日期之前有书面的有约束力的协议. 截止到2021年9月12日，所有收益金的税率将不超过20%. Note: President Biden had originally proposed a 39.对调整后总收入超过100万美元的纳税人，按6%计收.
- Carried interests: 将附带权益的长期资本增值待遇持有期限由3年延长至5年，自1月1日起生效, 2022.
- Surtax on high earners: 对调整后总收入超过500万美元(2美元)的个人征收3%的附加税.已婚个人单独申报500万)，2022年1月1日生效. Note: 收入超过500万美元的纳税人的最高所得税税率可能是46.4 percent (39.6% + 3.8% NIT + 3% surtax) and the top capital gains rate would be 31.8 percent for those same taxpayers.
- Net investment tax: 对于应税收入超过400美元的纳税人，扩大申请范围，包括来自贸易或业务的净投资收入,000 for individuals or $500,000 for married filing jointly.
- Pass-through deduction: Limits the maximum Section 199A deduction to $500,000 for married filing jointly taxpayers; $400,000 for individual taxpayers; $250,000 for married filing separately taxpayers; and $10,000 for a trust or estate.
- Business losses: 永久禁止非企业纳税人遭受额外的业务损失.
- S Corporation reorganization: 暂时允许某些S公司重组为合伙企业，而不触发应税收益.
- What’s missing…for now: Changes to the State and Local Tax (SALT) deduction cap, which is currently set at $10,000, 但预计在立法完成之前将会发生一些变化.
Draft Proposals: Estate Tax
- Estate tax: 将遗产税减免至每人500万美元(经通胀调整后预计为5美元左右).5 million for 2022) effective January 1, 2022. There are no changes to estate tax rates. Note: President Biden did not propose this; however, he expressed support for lowering exemptions to $3.5 million.
- Grantor trusts: 要求授予人信托包括在被继承人的应纳税的遗产，当被继承人被认为是信托的所有人的所得税目的. 该条款还将授予人信托与被视为所有者之间的销售视为信托与第三方之间的销售，从而导致此类交易按联邦所得税目的全额纳税. Note: Changes to grantor trust rules were not proposed by President Biden, 但它们之前被包括在奥巴马政府的预算提案和美国政府的预算中.S. 财政部绿皮书和参议员伯尼·桑德斯提出的立法.
Planning tip: Grantor trusts created and funded prior to the date of enactment, which is anticipated to occur sometime in October or November 2021, are grandfathered. Thus, there is still time to create and fund a grantor trust, which is a commonly used and powerful tool for estate tax mitigation. However, 这一窗口正在迅速关闭，拟议的修改将在颁布之日生效. Contact your RKL advisor to maximize this opportunity.
- Valuation discounts: Eliminates valuation discounts for non-business assets (i.e. passive investments).
- What’s missing: The elimination of the step-up in basis as proposed by the Biden administration. At this time, 国会似乎没有足够的支持这项提案成为法律.
Draft Proposals: Corporate Tax
- Graduated corporate rate: 将扁平的公司结构替换为分级税率结构，税率为18%，最高为400美元,000 of income; 21 percent rate up to $5 million of income; and 26.5 percent rate for income over $5 million. 收入超过1 000万美元的公司将无法从较低的边际税率中获益. Note: 拜登总统最初提议对所有收入征收28%的统一税率.
- Section 250 deduction: 通过减少对外国衍生无形收入(FDII)和全球无形低税收收入(GILTI)的符合资格的第250节抵扣，增加公司的国际活动的税收.
- Section 1202 exclusion: 限制第1202条对拥有40万美元或以上AGI的纳税人的小企业股票豁免. This would be effective September 13, 2021.
Draft Proposals: Retirement Plans
- Contribution limits and RMDs: 1月1日起，当纳税人的个人退休帐户和固定缴款退休帐户的总额超过1,000万美元时，增加新的缴款限额和最低要求的分配, 2022.
- Roth conversions: 消除个人退休账户和雇主资助计划的Roth转换(有时被称为“后门”贡献):
- Single taxpayers with taxable income over $400,000;
- Married taxpayers filing jointly with taxable income over $450,000; and
- Heads of households with taxable income over $425,000.
Draft Proposals: Miscellaneous
- Increased IRS funding: Provides for $78.90亿美元用于扩大国税局的执法和审计能力.
The RKL team continues to monitor developments in Washington, D.C., as the legislative process plays out. Contact your advisor 根据你的个人情况提出具体的问题. For continuing coverage, stay tuned to our blog and make sure you’re signed up to receive our newsletter and webinar invites.
