Understanding the COVID / Tax Extenders Bill has been saved
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.
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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