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Roby Sawyers Explains Potential Difficulties of the Billionaire Minimum Tax

Roby Sawyers, professor of accounting, discusses the problematic nature of the billionaire minimum tax held in the 2023 U.S. government budget proposal.

“It would be administratively difficult to enforce and a compliance nightmare for high-wealth individuals with illiquid ‘nontradeable’ assets,” said Sawyers. “Although the proposal mentions unrealized gains and charitable gifts affecting how uncredited prepayments and refunds are handled, we have no practical guidance as to what that means or how it would work.”

Read the full article in the Journal of Accountancy.