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Understanding the COVID / Tax Extenders Bill

Part of the Tax News & Views podcast series

Congressional leaders passed a much-anticipated COVID-19 relief and spending bill this past December. However, with new tax provisions and extensions on expiring provisions from the CARES Act, there are numerous factors that tax leaders and professionals need to consider carefully in this new legislative package.

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Tax podcast: Understanding the COVID / Tax Extenders Bill

January 7, 2021

In a rapidly changing tax landscape, legislation is at the forefront, especially with the recent year-end release of the government funding bill that includes a COVID-19 relief and tax provisions package.

In this latest episode, Jon Traub, managing principal in Deloitte’s Tax Policy Group, leads a candid discussion with Victoria Glover, a partner in Deloitte’s tax policy and pass-throughs group, to look at what came into play to get this bicameral bill passed and, ultimately, what those new key tax provisions are.

In large part, the reason this bill got passed at the end of the year is because both parties decided to drop their red lines. It also helped that Mitch McConnell and Nancy Pelosi said they wanted to do a joint economic relief package, which got both parties working together.

—Victoria Glover

Jon and Victoria also touch upon the future impact of the bill, including looming deficits that will be a top priority for the new congress.

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There are plenty of tax-related policy and regulatory updates these days. Clear-eyed analysis of it is more difficult to come by. Deloitte Tax News & Views is a tax podcast committed to making sure you understand the latest tax developments and opportunities and their potential impact on your business.

Listen as Deloitte Tax specialists provide key highlights of tax legislation, regulation, and more.

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