On September 13, 2021, Chairman Richard Neal (D-MA) of the House Ways and Means Committee introduced an amendment to the committee’s recommendations, advancing several proposed tax code changes, including changes that may affect established planning with irrevocable grantor trusts.
Neither the scope nor the effective date of the proposals affecting grantor trusts have been finalized. It appears as though grantor trusts established prior to the date of enactment may be exempt, along with private financing transactions between a grantor and their exempt grantor trust. Although details are still uncertain, there may be a short window of planning opportunities utilizing grantor trusts.

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