https://www.investmentnews.com/ultrarich-are-aware-of-tax-loophole-on-unrealized-gains-40747
This is supposedly some potential legislation, coming up in 2022, that is to keep guys like Red McCombs, Warren Buffett, David Murdoch, and the like from entering into variable prepaid forward contracts, where they accept a huge sum of money on stock holdings and agree to divest the stocks to the purchaser at a later date to manipulate their tax bracket. Which, I believe is a loophole that needs to be closed by the SEC or FTC.
However, investors, small businesses, farmers, ranchers, high valued property owners in desirable urban locations, and others who have valuable assets, but not a lot of cash flow will be liable for a substantial tax bill.
https://www.realclearmarkets.com/articles/2021/01/25/beware_of_a_biden_tax_on_unrealized_capital_gains_657597.html
Hopefully this legislation never makes it to the Floor, or the threshold is raised above the $3.5 million proposed.
CHIEF