Treasury Releases The American Families Plan Tax Compliance Agenda (May 20, 2021)

The U.S. Department of Treasury has released a report on a set of tax compliance measures to increase fairness in the tax system and foster a tax system where Americans pay the taxes they owe. These measures are part of President Biden’s recent proposals in the American Families Plan, with the goal of advancing comprehensive and necessary investments in American children and families The agenda begins as follows:

President Biden recently proposed the American Families Plan, advancing comprehensive and necessary investments in American children and families. To help support this important agenda and increase fairness in the tax system, the President also proposed a set of tax compliance measures to foster a tax system where Americans pay the taxes they owe.

To see the full press release: Treasury Releases Report on the American Families Plan’s Tax Compliance Agenda

To see the full agenda: The American Families Plan Tax Compliance Agenda

Posted by Jessica Ji, Associate Editor, Wealth Strategies Journal.