The COVID-19 pandemic and the possibility of unfavorable changes to the capital gains tax rates have led many business owners to contemplate selling their interests in 2021.
On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (ARP Act), the $1.9 trillion COVID-19 relief package aimed at stabilizing the economy, providing needed relief to individuals and small businesses, and improving and accelerating the administration of coronavirus vaccines and testing.