News & Analysis as of September 19, 2024

Tax Credits

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

Weekly IRS Roundup July 22 – July 26, 2024

McDermott Will & Emery on 8/1/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 22, 2024 – July 26, 2024....more

Weekly IRS Roundup June 24 – June 28, 2024

McDermott Will & Emery on 7/3/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 24, 2024 – June 28, 2024. ...more

Close but no cigar: IRS releases updated draft Form 6765 “attempting” to reduce the heightened level of detail required to claim...

Eversheds Sutherland (US) LLP on 6/26/2024

On June 21, 2024, the Internal Revenue Service (IRS) released an early draft of revised Form 6765, Credit for Increasing Research Activities. Following the release of the September 2023 draft Form 6765 which dramatically...more

SALT Select Developments - April 2024

Baker Donelson on 4/26/2024

State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Weekly IRS Roundup March 11 – March 15, 2024

McDermott Will & Emery on 3/19/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of March 11, 2024 – March 15, 2024. ...more

Weekly IRS Roundup March 4 – March 8, 2024

McDermott Will & Emery on 3/13/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of March 4, 2024 – March 8, 2024. ...more

Weekly IRS Roundup February 12 – February 16, 2024

McDermott Will & Emery on 2/22/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 12, 2024 – February 16, 2024. ...more

Weekly IRS Roundup January 15 – January 19, 2024

McDermott Will & Emery on 1/24/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 15, 2024 – January 19, 2024. ...more

[Event] Winter Tax Forum 2024 - January 31st, Richmond, VA

Williams Mullen on 1/11/2024

Join Williams Mullen partners for our in-person Winter Tax Forum on Wednesday, January 31, 2024. Our speakers, Farhad Aghdami, Jenny Connors, Conrad Garcia and Beth Hungate-Noland will present on partnership aggregators and...more

Weekly IRS Roundup January 1 – January 5, 2024

McDermott Will & Emery on 1/10/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 1, 2024 – January 5, 2024. ...more

Weekly IRS Roundup November 6 – November 10, 2023

McDermott Will & Emery on 11/14/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 6, 2023 – November 10, 2023...more

The Brass Tacks: IRS Creates Process for Withdrawing ERC Claims

DarrowEverett LLP on 11/7/2023

The Internal Revenue Service (“IRS”) recently granted employers a means to avoid interest and penalties on inappropriately taken Employee Retention Tax Credit (“ERC”) claims. This surely will come as a relief to taxpayers who...more

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

Weekly IRS Roundup October 2 – October 6, 2023

McDermott Will & Emery on 10/16/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 2, 2023 – October 6, 2023. ...more

Weekly IRS Roundup September 21 – September 27, 2023

McDermott Will & Emery on 10/6/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 21, 2023 – September 27, 2023...more

Weekly IRS Roundup September 4 – September 8, 2023

McDermott Will & Emery on 9/15/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 4, 2023 – September 8, 2023. ...more

Weekly IRS Roundup May 8 – May 12, 2023

McDermott Will & Emery on 5/16/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 8, 2023 – May 12, 2023...more

Budget fédéral 2023 : Présentation de certaines mesures fiscales

Blake, Cassels & Graydon LLP on 4/4/2023

Le 28 mars 2023 (le « jour du Budget »), la ministre des Finances du Canada a présenté le budget fédéral de 2023 (le « Budget 2023 »). Même si certains avaient prédit que le programme législatif chargé du ministère des...more

Taxation & Representation. Feb. 15, 2023

Brownstein Hyatt Farber Schreck on 2/23/2023

TAX TIDBIT - Progress on Werfel and Blatchford Appointments, Other Nominations Delayed. Following the retirement of former IRS Commissioner Chuck Rettig in early November 2022, the tax-administration agency has been...more

Tax Actions by the Alaska Legislature in 2022

Stoel Rives - Mineral Law on 10/13/2022

In my most recent column for State Tax Notes, I look at several bills that did and didn’t pass in the latest session of the Alaska State Legislature, which adjourned in May, and at what may be on the horizon....more

2021 Tax Changes For Businesses: The Not So Good, The Bad And The Ugly

Kohrman Jackson & Krantz LLP on 1/27/2022

As small and mid-size business owners move toward the federal tax filing deadline in this new year, they need to be aware of certain changes in the federal income tax area. A short listing of the highlights (more...more

2022 Premium Tax Credit Chart

Kaufman & Canoles on 11/16/2021

John Peterson has created a 2022 Premium Tax Credit Chart, updated for the American Rescue Plan Act. 1. Locate line where estimated 2022 household income & household size intersect 2. First column shows household % of...more

President Biden's Proposed Infrastructure Plan Includes Business Tax Provisions to Incentivize Infrastructure Investments and Fund...

Partridge Snow & Hahn LLP on 4/2/2021

On Wednesday, March 31st, President Biden released a summary of his administration’s proposed The American Jobs Plan (the “TAJP”). TAJP is a $2 trillion proposal focusing on public domestic infrastructure investments. To help...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

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