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US Treasury Releases Final Regulations for $7,500 EV Tax Credit, Maintains Exclusions for Foreign Entities of Concern

On May 3, the US Treasury Department (Treasury) released final regulations under Section 30D of the Internal Revenue Code. The Section 30D regulations provide guidance for the up to $7,500 electric vehicle (EV) tax credit...more

Third Circuit Says Statutory Trusts are ‘Covered Persons' Under Consumer Financial Protection Act

In a ruling long anticipated in the securitization industry, the US Court of Appeals for the Third Circuit on March 19 issued its opinion in Consumer Financial Protection Bureau v. National Collegiate Master Student Loan...more

ESG Guidepost | Issue 11

Katten ESG Guidepost is a monthly publication highlighting the latest news, legal and regulatory developments involving environmental, social and governance matters....more

Updates on EV Tax Credits

Over the past several months the US Treasury Department (Treasury) and the Internal Revenue Service (IRS) have been busy issuing regulations and administrative guidance with respect to Section 30D (New Clean Vehicle Tax...more

ESG Guidepost | Issue 2

President Biden's New Executive Order on Environmental Justice Broadly Expands Environmental Justice Requirements - The Biden Administration has issued Executive Order (EO) 14096: Revitalizing Our Nation's Commitment to...more

Treasury and IRS Release Proposed Regulations on Consumer Electric Vehicle Tax Credits

On March 31, the Treasury Department and the Internal Revenue Service (IRS) released proposed regulations under Section 30D of the Internal Revenue Code (Code), focusing primarily on the critical mineral and battery component...more

Financial Markets and Funds Quick Take | Issue 11

SEC Announces Inspection Priorities for 2023 - On February 7, the Securities and Exchange Commission (SEC) announced its inspection priorities for the current year. The announcement began by noting that the SEC examined 15...more

SEC Delays Enforcement of Rule 15c2-11 Compliance

In 2021, the Securities and Exchange Commission (SEC) took the industry off-guard by announcing its new position that Rule 15c2-11 of the Securities Exchange Act of 1934 (Rule) and its amendments apply to fixed-income...more

Treasury Releases Guidance on Electric Vehicle Tax Credits

On December 29, 2022, the US Treasury Department and the Internal Revenue Service (IRS) released guidance relating to the electric vehicle (EV) tax credit provisions of the Inflation Reduction Act of 2022, Public Law 117-169...more

IRS Issues Guidance on "Qualified Manufacturer" Requirements for New Electric Vehicle Tax Credits

The Inflation Reduction Act of 2022, Public Law 117-169, created three new electric vehicle (EV) tax credits - - the clean vehicle tax credit (Section 30D) for consumers; - the commercial clean vehicle tax credit...more

California Court of Appeal Ruling Limits Application of Default Interest

The California Court of Appeal recently ruled that California law treats default interest measured against the unpaid principal balance of a loan as an unenforceable penalty. In Honchariw v. FJM Private Mortgage Fund, LLC...more

Structured Finance Year in Review and the Outlook for 2021 | Key Takeaways

On December 8 and 10, Katten’s Structured Finance and Securitization Department presented the “Year in Review and Outlook for 2021” webinar series. Topics covered by Katten attorneys and guest speakers include the impact of...more

New IRS Guidance on Forbearances and Modifications of Mortgage Loans as a Result of COVID-19

Key Points - The Internal Revenue Service (IRS) yesterday released Revenue Procedure 2020-26, which is designed to alleviate tax uncertainty related to forbearances and modifications of mortgage loans in response to the...more

The CARES Act Stimulus Bill: Tax Changes to Improve Liquidity for Businesses, Assist Employers and Stimulate the Economy

On March 27, the United States Congress passed the Coronavirus Aid, Relief, and Economic Security Act or CARES Act, and the President signed the bill into law. The CARES Act provides for $2 trillion in economic stimulus and...more

Additional Proposed Regulations Issued Regarding Opportunity Zones

As part of the US federal tax reform in 2017, Congress enacted sections 1400Z-1 and 1400Z-2 of the Internal Revenue Code of 1986, as amended (the "Code"), to provide incentives economic growth and investment in designated...more

Qualified Opportunity Zone Proposed Regulations Q&As

On October 19, the Internal Revenue Service (IRS) and US Department of the Treasury released the first set of proposed regulations under Internal Revenue Code Subchapter Z—Opportunity Zones (Proposed Regulations). On the same...more

Are You Ready for the New Partnership Audit Regime?

Katten previously alerted our readers to the changes in partnership audit rules [See Katten Advisory, "New Partnership Audit Regime Set to Take Effect in 2018, Proactive Planning Recommended," August 7, 2017]. The Internal...more

New Partnership Audit Regime Set to Take Effect in 2018, Proactive Planning Recommended

On November 2, 2015, Congress passed the new centralized partnership audit regime as part of the Bipartisan Budget Act of 2015 (BBA) which is set to take effect for the tax years beginning on or after January 1, 2018. The...more

IRS Issues New FATCA Regulations

On February 20, 2014, the Internal Revenue Service (IRS) issued additional final and temporary regulations (T.D. 9657) under the Foreign Account Tax Compliance Act of 2009 (FATCA) as well as new regulations (T.D. 9658) that...more

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