The U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) recently released proposed regulations (REG-122793-19) pertaining to information reporting and backup withholding, as well as basis and...more
After much political gridlock, Congress passed an omnibus government-spending bill (Appropriations Act), which includes another COVID-19 relief package. The Appropriations Act contains many tax-related provisions. Some of the...more
12/28/2020
/ Appropriation Act ,
Business Taxes ,
CARES Act ,
Coronavirus/COVID-19 ,
Employee Retention ,
Families First Coronavirus Response Act (FFCRA) ,
IRS ,
Loan Forgiveness ,
Meal and Entertainment Expenditures ,
Paid Family Leave Law ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
Tax Credits ,
Trump Administration
08.05.2020 | Updates On Friday, July 31, 2020, the Internal Revenue Service (IRS) issued proposed regulations under Section 1061 of the Internal Revenue Code. Enacted as part of the 2017 Tax Cuts and Jobs Act, Section 1061...more
In response to the ongoing coronavirus (COVID-19) pandemic, the U.S. Congress, the Executive Branch, and the Internal Revenue Service (the IRS) have taken several actions intended to provide immediate relief to taxpayers,...more
New development: The IRS has issued guidance that the exception to the new 3-year hold requirement for carried interests held by “corporations” does not apply to S corporations.
As previously discussed, the 2017 Tax Cuts...more
3/8/2018
/ Asset Management ,
Business Assets ,
Business Taxes ,
C-Corporation ,
Capital Gains ,
Carried Interest ,
Fund Managers ,
Investors ,
IRS ,
Limited Liability Company (LLC) ,
Partnership Interests ,
S-Corporation ,
Tax Cuts and Jobs Act
The 2017 Tax Cuts and Jobs Act (the Act), signed by President Trump last month, significantly affects the ability of the managers of investment funds to receive long-term capital gains with respect to their carried interest....more
The recent tax reform bill, commonly referred to as the Tax Cuts and Jobs Act of 2017 (the Act), was signed into law on December 22, 2017. The Act includes a new income tax deferral regime for certain employee stock options...more
The tax reform bill, commonly referred to as the Tax Cuts and Jobs Act of 2017 (the Act), was signed into law on December 22, 2017. The Act contains a number of provisions that create significant year-end planning...more
12/28/2017
/ Acquisitions ,
Bonus Depreciation ,
Corporate Taxes ,
Mergers ,
Net Operating Losses ,
Pass-Through Entities ,
Stock Options ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Rates ,
Tax Reform
President Obama signed into law the Protecting Americans from Tax Hikes Act of 2015 (the PATH Act) on December 18, 2015. Among other provisions, the PATH Act provides that the 100 percent exclusion from gross income of...more
Recently, the Internal Revenue Service issued final regulations addressing reorganizations, commonly referred to as “F reorganizations,” under Section 368(a)(1)(F) of the Internal Revenue Code (the Code). F reorganizations...more
On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the Act). Among other provisions, the Act provides that the 100% exclusion from gross income of certain capital gains from sales...more