Income Taxes, Business Taxes, Estate Tax

2023 Massachusetts Tax Update

Verrill on 10/24/2023

Massachusetts Estate Tax: For decedents dying on or after January 1, 2023, there is no Massachusetts estate tax for an estate under $2,000,000. The law does not adjust the filing threshold so state tax returns may still be...more

Estate Planning and Business Transition Considerations for Year-End Preparations

Schwabe, Williamson & Wyatt PC on 9/29/2023

As we enter the homestretch of 2023, it’s the perfect time to reexamine plans and action items. There are plenty of items to address, and it’s best to do so sooner rather than later. When you review year-end estate planning...more

Taxation & Representation, October 5, 2021

Brownstein Hyatt Farber Schreck on 11/1/2021

TAX TIDBIT - Where In the Tax World Are Manchin and Sinema? The contents and scope of the Build Back Better Act—the budget reconciliation measure through which congressional Democrats are attempting to enact most of...more

House of Representatives 5376: Current Tax Legislation Pending in the U.S. House of Representatives

Foster Garvey PC on 10/15/2021

...The federal tax laws are certainly about to change. With the need to raise revenue as a top priority for the Biden Administration, everyone is expecting dramatic changes to the Internal Revenue Code. Tax legislation is...more

Better Act Before The Build Back Better Act

Levenfeld Pearlstein, LLC on 9/23/2021

It is said that two things are certain in life: death and taxes. True, but incomplete. What is missing from this short list is a third inevitable occurrence – tax law changes. We now have a new and pressing series of proposed...more

Tax Alert: The Implications of House Democrats’ Tax Proposal

Miles & Stockbridge P.C. on 9/22/2021

Big tax changes are on the way! President Biden, the House, and the Senate all seem to have their own agenda, but the proposal introduced by the House Ways and Means Committee (the “Proposal”) is a good starting point for...more

House Tax Proposal Would Restrict Grantor Trust Planning: What You Need To Know Now

Lowenstein Sandler LLP on 9/21/2021

On September 13, the House Ways & Means Committee proposed new tax provisions as part of the Build Back Better Act. The proposal includes many substantial tax changes that would affect personal income tax and business tax...more

Tax Proposals of President-Elect Biden and Other Prominent Democrats

Proskauer - Tax Talks on 1/14/2021

This blog summarizes some of the tax proposals of President-elect Joe Biden and other prominent Democrats. Biden’s Proposals - Increased Individual Tax Rate - Biden would increase the top marginal income tax rate...more

Tax Planning for a Biden Presidency

Jackson Walker on 1/14/2021

This past November, we outlined selected tax law changes that President-elect Joe Biden has proposed, both in speaking engagements and on his campaign website, some or all of which could be enacted in 2021 or future years. ...more

Tax Planning for a Biden Presidency

Jackson Walker on 11/10/2020

With Biden as the projected President-Elect (subject to pending federal litigation and the Electoral College vote), tax planning for late 2020, 2021, and beyond is top of mind for many businesses and individuals....more

The 2020 Elections Are Almost Over – What Now?

Farrell Fritz, P.C. on 11/9/2020

Wither The Senate? I was reviewing a reorganization plan Saturday morning – coffee and chocolate chip cookies within easy reach – when an email crossed my screen with the subject line that each of NBC, CNN, ABC and the...more

An Electing Real Property Trade or Business can Revoke its Election on Account of the Change to Qualified Improvement Property...

Seyfarth Shaw LLP on 4/14/2020

On April 10, 2020, the Internal Revenue Service (the “IRS”) issued Revenue Procedure 2020-22 (the “Revenue Procedure”), which (1) permits an “electing real property trade or business” that elected not to be subject to the...more

Top 10 Tax Planning Tips for 2020

Chambliss, Bahner & Stophel, P.C. on 2/12/2020

Tax season is right around the corner, but good tax planning takes place all year long! See below for some of our favorite tips and tricks. These cover a variety of areas including charitable giving, estate tax exemptions,...more

Weekly IRS Roundup November 18 – 22, 2019

McDermott Will & Emery on 11/27/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 18 – 22, 2019. November 19, 2019: The IRS published final regulations that affect United...more

Decoding the Tax Cuts and Jobs Act – Part VIII: Charitable and Tax-Exempt Organizations / Estate and Gift Taxes

Foster Garvey PC on 3/28/2018

Charitable organizations work hard to maintain exempt status. These organizations operate in a highly regulated landscape: In exchange for enjoying freedom from income taxes, they must comply with strict organizational and...more

Budget 2018

Hogan Lovells on 2/21/2018

The 2018 tax proposals are projected to raise ZAR36 billion. The key changes announced are: Donations tax will increase to 25% in respect of any donations exceeding ZAR30 million. There have been no increases in the corporate...more

How the New Tax Law May Impact Your Estate Plan

Bradley Arant Boult Cummings LLP on 2/8/2018

On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (the “2017 Act”) which, among other items, made several changes to the federal wealth transfer tax system with respect to transfers occurring...more

New Tax Law – Impacting Your Small Business and You

Gray Reed on 1/24/2018

Agreeing with Benjamin Franklin that there is nothing certain except death and taxes, Sketch Wood and his partner Minnie Brix, owners of Wood & Brix, and their 200 employees are certain that the new tax law will affect them,...more

CPA Shoptalk: 8 Takeaways

Schwabe, Williamson & Wyatt PC on 1/18/2018

On January 10th, 11th and 18th our tax attorneys ?hosted a "CPA Shoptalk" seminar in ?Portland, Vancouver and Bend. Below are ?some key takeaways to consider... 1. Partnership Audit Rules Post-TEFRA - The Balanced...more

The Real Property Business And The Tax Cuts & Jobs Act

Farrell Fritz, P.C. on 1/16/2018

The Tax Cuts and Jobs Act of 2017[1] went into effect only two weeks ago. Many of its provisions represent significant changes to the Code, and it will take most of us several months to fully digest them,[2] to appreciate...more

Tax Reform: Sweeping Changes To Federal Tax Law And The Impact On Businesses And Individuals

Akerman LLP on 1/12/2018

On December 22, 2017, President Trump signed into law what is commonly referred to as the "Tax Cuts and Jobs Act" (the "Act"). The Act makes significant changes to the Internal Revenue Code (the "Code") and affects a broad...more

PA Requires Oil and Gas Lessees to Withhold State Income Taxes from Nonresident Lessors

Steptoe & Johnson PLLC on 1/10/2018

Under Act 43 of 2017 beginning January 1, 2018, anyone that pays Pennsylvania-source non-employee compensation or business income to a non-resident individual or disregarded entity that has a non-resident member, and is...more

New Tax Changes: The Tax Cuts And Jobs Act

Roetzel & Andress on 1/9/2018

The Tax Cuts and Jobs Act (“Act”) (P.L. 115-97) signed into law by President Trump on December 22, 2017 and effective for tax years starting January 1, 2018 reflects a compromise between the House and Senate Bills as...more

Analysis of Key Provisions of the Tax Cuts and Jobs Act

Ballard Spahr LLP on 1/9/2018

As we are sure you know, H.R. 1, informally known as the Tax Cut and Jobs Act, became law on December 22, 2017. This new law will impact almost all taxpayers. Ballard Spahr's Tax Group has prepared a detailed summary of...more

A Concise Summary of the New Tax Law

Fenwick & West LLP on 1/8/2018

This summary describes some of the more significant changes made to U.S. federal tax laws by H.R. 1, the bill signed into law by President Trump on December 22, 2017. Except where otherwise noted, the changes take effect in...more

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