Former Vice President Joe Biden is our president-elect, but the future of America’s tax policy will depend largely on how a few remaining Senate races turn out.

There are a lot of questions about where we go from here, but Edward Karl is going to try to clarify a few things. Edward is vice president of taxation for the American Institute of CPAs and a member of the Maryland Association of CPAs, and he’s got his finger on the pulse of the tax situation in our country.

Edward joined us not long after Biden was projected to win to talk about the impact of the election, the pandemic, and a number of other issues — and not just the prospect of new tax policy but on the upcoming tax season as well. And if you had to boil it all down to one word, Karl said that word might be “patience.”

Listen to my conversation with Edward here.

  Additional resources:

• MACPA tax resources
• AICPA tax resources
• Follow Edward Karl on LinkedIn | Twitter
• "Prospects for Federal Tax Policy After the 2020 Election" (from The Tax Foundation)
• "Democrats express concerns about IRS readiness for next year's filing season" (from The Hill)

"Future-Proof" is a production of Crate Media.