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Alternative Minimum Tax › Foreign Earned Income

The Alternative Minimum Tax is an aspect of the United States federal tax code that seeks to capture a minimum level of revenue from all taxpayers and to ensure that some earners are not escaping tax liability... more +
The Alternative Minimum Tax is an aspect of the United States federal tax code that seeks to capture a minimum level of revenue from all taxpayers and to ensure that some earners are not escaping tax liability through certain tax breaks or deductions.  Liability under the AMT is calculated by adding certain deductions back into an individual's adjusted gross income, subtracting the AMT exemption and then, paying a percentage of the remaining figure. less -
Roetzel & Andress

IRS Issues Inflation Adjustments for 2024

Roetzel & Andress on

The IRS recently announced the 2024 annual inflation adjustments for key tax provisions. Of interest to our clients, • Standard Deduction: The standard deduction for married couples filing jointly increases by $1,500 to...more

Jones Day

The U.S. Tax Cuts and Jobs Act: Fundamental Changes to Business Taxation

Jones Day on

Signed into law December 22, 2017, the "Tax Cuts and Jobs Act" represents the most comprehensive reform to the U.S. federal tax code in a generation. The Act's most notable provisions include significant reductions in both...more

Locke Lord LLP

Tracking Tax Reform: The House and Senate Conference Committee’s Conference Report on the Tax Cuts and Jobs Act

Locke Lord LLP on

On December 15, the House and Senate Conference Committee released the conference report on the Tax Cuts and Jobs Act (the “Conference Committee Report” or “Report”), containing the specific details on the tax plan they hope...more

Proskauer - Tax Talks

House of Representatives Passes the Tax Cuts and Jobs Act (H.R. 1); Senate Finance Committee Approves Modified Version; Comparison...

Proskauer - Tax Talks on

Yesterday afternoon, the House of Representatives passed the Tax Cuts and Jobs Act (H.R. 1) (the “House bill”). The House bill is identical to the draft bill approved by the House Ways and Means Committee on November 10. Late...more

Locke Lord LLP

Tracking Tax Reform: Comparison of the Tax Cuts and Jobs Act as Passed by the House and Approved by the Senate Finance Committee

Locke Lord LLP on

On November 16, the House passed the Tax Cuts and Jobs Act (the “House Bill”) by a 227-205 vote. Also on November 16, members of the Senate Finance Committee voted 14-12 to approve their own tax bill (the “Senate Plan”). The...more

Cooley LLP

Alert: Comprehensive Tax Reform: The House and Senate Proposals at a Glance

Cooley LLP on

On November 9, 2017, the Joint Committee on Taxation (the "JCT") released a summary of the Senate's proposal (in the form of a description of the Chairman's Mark of the "Tax Cuts and Jobs Act," referred to in this alert as...more

BakerHostetler

The Path to Tax Reform 2017: Long-Awaited Tax Cuts and Jobs Act Released by House Ways & Means Committee For Potential Passage...

BakerHostetler on

With the release yesterday by the House Ways and Means Committee of draft statutory text of the Tax Cuts and Jobs Act (“Chairman’s Mark”), and with GOP majorities in both chambers of Congress proceeding under budget...more

Lowndes

House Republicans Release (Simplified?) Tax Reform Bill

Lowndes on

The House Republican’s tax reform bill – the Tax Cuts and Jobs Act – was released today. This bill is 429 pages (this is simplifying?) and provides for extensive tax reform....more

Akerman LLP

Ambitious Tax Reform Takes Center Stage

Akerman LLP on

The Trump Administration and certain members of Congress recently released an ambitious, conceptual plan for tax reform that would drastically alter current U.S. tax law, affecting a wide array of taxpayers. The plan (called...more

Snell & Wilmer

Tax Reform in 2017? What is in Store for U.S. Businesses

Snell & Wilmer on

With Republicans in control of the White House and Congress, one of the top priorities is tax reform. President Trump’s tax reform proposal and the House Republicans’ tax reform “Blueprint” suggest many changes to business...more

Patterson Belknap Webb & Tyler LLP

American Taxpayer Relief Act of 2012: Tax Implications for U.S. Taxpayers Living Abroad

Patterson Belknap Webb & Tyler LLP on

Although the American Taxpayer Relief Act of 2012 (“Fiscal Cliff Legislation”) passed last week does not contain any sweeping changes targeted at U.S. taxpayers living abroad, a number of provisions are relevant to such U.S....more

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