In mid-January, the House introduced the Tax Relief for American Families and Workers Act (Act). The Joint Committee of Taxation has released its explanation of the Act, and the House Ways and means Committee has released a...more
As we move past Labor Day, little time is left before both chambers leave again for the November elections. The House of Representatives is slated to be in town for only 11 days in September before breaking, and though...more
After a week of uncertainty, on Sunday night, President Trump signed the $900 billion stimulus deal and $1.4 trillion government funding bill that was passed by Congress early last week. The legislation includes many...more
The US$900 billion COVID-19 relief/stimulus package passed by Congress and signed by the President on December 27 includes sweeping energy provisions that constitute the most significant energy legislation passed by Congress...more
On December 21, 2020, Congress passed a series of energy tax credit extenders and additions as part of the omnibus spending and coronavirus relief bill. The bill has not yet been signed by President Trump....more
Congress has extended and expanded renewable energy tax benefits as part of the comprehensive COVID relief bill passed on December 21, 2020 and now awaiting President Trump’s signature. The relief bill passed by large...more
On Dec. 21, 2020, the U.S. House of Representatives and Senate passed a year-end tax package, which would extend certain tax credits for renewable energy and other tax incentives. The bill was sent to President Trump for his...more
Congress is moving rapidly towards passing the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (Extenders Bill) as part of the Consolidated Appropriations Act, 2021. If enacted, the Extenders Bill would extend certain...more
As part of its ongoing response to COVID-19, the Internal Revenue Service (IRS) released Notice 2020-49, which extends certain time criteria related to the New Markets Tax Credit (NMTC) program. Under the notice, any due...more
In the wee hours of December 2019, Congress revived the PCORI fee and filing obligations of employer sponsors of self-insured group health plans. In accordance with the requirements of the Affordable Care Act, employer...more
As we begin a new year and the second session of the 116th Congress, ML Strategies is pleased to share some highlights of where we see action this year on Capitol Hill. Although the impending impeachment trial of President...more
On December 20, President Trump signed the Further Consolidated Appropriations Act, 2020 (the “Act”), a year-end spending bill that includes key provisions that will affect employer-sponsored benefit plans. This legal alert...more
The production tax credit for renewable wind projects under Section 45 of the Internal Revenue Code of 1986 (the "PTC" and "Code") has been extended by one year pursuant to a 2019 year-end federal government budget...more
In a rare display of bipartisanship, after intense last minute negotiations between congressional leadership and the Executive Branch, President Donald Trump signed into law legislation passed last week by Congress to...more
Congress is moving towards passing The Taxpayer Certainty and Disaster Relief Act of 2019 (Extenders Bill). If enacted, the Extenders Bill would extend certain tax credits for the renewable energy and alternative fuels...more
On Dec. 17, 2019, the U.S. House of Representatives reached an agreement on a year-end tax package, which would extend or renew certain expired or expiring tax credits and other tax incentives. Some tax credits that had...more
On December 17, 2019, lawmakers on Capitol Hill agreed to a tax extenders package that is expected to be passed by the House and the Senate in the coming days as part of the Taxpayer Certainty and Disaster Tax Relief Act of...more
Just past midnight on Dec. 17, lawmakers released an amendment to one of two spending bills released on Dec. 16—H.R. 1865—the Further Consolidated Appropriations Act of 2020. Most notably, the amendment included an extension...more
Congress returns to D.C. this week for a short three-week sprint to a series of important deadlines on September 30. Chief among them is funding the federal government for Fiscal Year (FY) 2020 which begins on October 1,...more
TAX TIDBIT - Five Takeaways and a Falsehood: Test Your Knowledge of the Ways and Means Tax Markup - On Thursday, the House Ways and Means Committee marked up and approved the following four bills, largely along...more
The Tribal Treasury Advisory Committee (TTAC) held its inaugural meeting on June 20, 2019, at the U.S. Department of the Treasury. The TTAC was established by the Tribal General Welfare Exclusion (GWE) Act of 2014 (Pub. L....more
The Senate Finance Committee has launched a new effort to consider the fate of dozens of temporary tax provisions (or “extenders”) that have expired in recent years, as well as other provisions slated to expire in 2019 and...more
In This Issue: - Tax Tidbit - Legislative Lowdown - RegWatch - 1111 Constitution Avenue - At a Glance - Brownstein Bookshelf - Regulation Station ...more
In This Issue - - Tax Tidbit - Legislative Lowdown - RegWatch - 1111 Constitution Avenue - 2020 Vision - At a Glance - Brownstein Bookshelf...more
Tax Extenders - Since our last Washington update, Senators Grassley (R-IA) and Wyden (D-OR), the Chairman and Ranking Member of the Senate Finance Committee, respectively, have introduced the Tax Extender and Disaster...more