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Natural Resources Internal Revenue Service

Mayer Brown

Final Like-Kind Exchange Regulations Contain Much-Needed Clarity for Natural Resource-Related Assets

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In December of 2020, the US Internal Revenue Service (the “IRS”) issued final regulations (T.D. 9935) (the “Final Regulations”) on like-kind exchanges under Section 1031 of the Internal Revenue Code of 1986, as amended. The...more

Robins Kaplan LLP

Financial Daily Dose 2.19.2020 | Top Story: Arguments Begin Regarding Facebook’s 2010 Tax Bill

Robins Kaplan LLP on

On Tuesday, a U.S. federal tax court began hearing arguments regarding Facebook’s 2010 tax bill. The IRS valued Facebook at $13.8 billion, while Facebook reported only $6.5 billion. The final tally could potentially cost...more

Fenwick & West LLP

Proposed Guidance on the Production Sourcing Rules under New Section 863(b)

Fenwick & West LLP on

The Tax Cuts and Jobs Act (TCJA) repealed the long-standing “50/50” sourcing rule for United States exporters of manufactured products. Under the new rules, which source income of a “producer” solely to the place of...more

Bracewell LLP

Treasury and IRS Release Final Regulations on Qualifying Income, but Halted by Trump Moratorium

Bracewell LLP on

January 25, 2017 On January 19, 2017, the Department of the Treasury and the Internal Revenue Service (IRS) issued final regulations (Final Regulations) regarding qualifying income under Internal Revenue Code (Code) section...more

Bracewell LLP

MLP Qualifying Income – Treasury and IRS Issue Proposed Regulations

Bracewell LLP on

On May 5, 2015, the Department of the Treasury and the Internal Revenue Service (IRS) issued proposed regulations that provide much-anticipated guidance on the scope of qualifying income under Section 7704(d)(1)(E) of the...more

Latham & Watkins LLP

IRS Proposes Guidance for Determining MLP Qualifying Income

Latham & Watkins LLP on

Proposed regulations seek to provide rules for determining MLP qualifying income from certain activities and services performed with respect to minerals or natural resources. On May 5, 2015, the Internal Revenue...more

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