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Rich Americans who fear higher taxes hurry to move money now

Rich Americans are rushing to make large transactions, trying to get ahead of any moves next year by President-elect Joe Biden and Democrats in Congress to raise taxes or close loopholes.

Even with the divided Congress, tax changes are still possible in 2021, and the Biden administration could also try to close the many loopholes that make the U.S. estate and gift tax easy to avoid.
Even with the divided Congress, tax changes are still possible in 2021, and the Biden administration could also try to close the many loopholes that make the U.S. estate and gift tax easy to avoid.Read moreROBERTO SCHMIDT / MCT
    by Ben Steverman and Oshrat Carmiel, Bloomberg News
    Published