What could have been done to avoid this spectacle?

Here's a summary of the relevant provisions and effective dates, as well as some planning considerations.

The world’s 25 richest families are worth $1.7 trillion, a 22% increase from a year ago. 

If the SALT deduction were fully reinstated, the top 1% of taxpayers would face a tax increase less than half as large as that if the current cap on the write-off were retained, according to the Tax Foundation.

Consignor alleged fraud because artwork sold for $2 million more than agreement provided.

How wealthy families are giving.

The $3.5 trillion Build Back Better Act provides a variety of changes across the Tax Code.

Among the $2 trillion in tax hikes is a proposal to add commodities, currencies and digital assets to the so-called wash-sale rule.