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Biden Administration Budget 2022: Employer Sponsored Death Benefits a Forgotten Planning Tool

Part One of a Two-Part Article While providing a current benefit for employees, an employer sponsored death benefit is an asset that may create needless taxation if not properly handled. Taking prudent steps will avoid the problems of loss of control and flexibility while minimizing income, estate, transfer and capital income taxes.

25 minute readJuly 01, 2021 at 12:07 AM
By
Lawrence L. Bell
Biden Administration Budget 2022: Employer Sponsored Death Benefits a Forgotten Planning Tool

On the Friday afternoon before Memorial Day 2021, the Biden-Harris Administration issued its 2022 Budget and the Department of Treasury published the General Explanations of the Administration's Fiscal Year 2022 Revenue Proposals — the "Green Book" — which explains how we are going to pay for it.

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