Overview
While there has been some federal tax legislation in the U.S., the changes have been far more limited than many expected. Additionally, the continuing tight labor market, worries over a possible recession, and high inflation are dominating concerns. In this year-end tax letter, insights are provided on a variety of topics and most pressing tax issues, including employee benefits, digital asset taxation, excess business loss limitation developments, state pass-through entity tax regimes, things to watch for at the IRS, and more.