News & Insights

News Round Up – October 2021

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Corporate minimum tax proposal unveiled by key Senate Democrats (
New details of a Democratic plan to enact a 15% minimum corporate tax on declared income of large corporations were released Tuesday, October 26, 2021, by three senators, Elizabeth Warren, D-Mass., Angus King, I-Maine, and Senate Finance Committee Chair Ron Wyden, D-Ore.

EXPLAINER: What’s a ‘wealth tax’ and how would it work? (
Biden has pledged that his programs will not add a penny to the deficit, which means selling to Congress and voters a tax on the wealthiest .0005% of Americans. This article some details on the proposed billionaires tax.

Biden revises proposal to have IRS monitor bank accounts more closely. Here’s how it would work. (
Biden administration’s proposal to require that all U.S. banks report data to the Internal Revenue Service about any account annual deposits and withdrawals.

Global Corporate-Tax Overhaul Advances as 136 Nations Sign On | Accounting Today
A vast overhaul of corporate taxation won support from 136 countries, as nations resolved key differences over the level of a global minimum rate and an end to new digital taxes that the U.S. has deemed discriminatory.

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