News & Analysis as of

Trump Administration Tax Reform

BakerHostetler

What Happens If… Potential Election Outcomes and What They Could Mean

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Election Day could produce massive changes in Washington and in the policies that would affect every American and every company. Even a status quo election could produce lasting regulatory consequences for key stakeholders....more

Farella Braun + Martel LLP

Year-End Estate Planning in an Election Year

The 2020 election is less than a month away and year-end estate planning is already underway for many. Under current law, the estate, gift and GST (generation-skipping transfer) tax exemptions for 2020 are set at $11,580,000...more

Patrick Malone & Associates P.C. | DC Injury...

In the midst of a crisis, Trump administration throws billions at giveaways to favored political targets

Taxpayers and lawmakers have ensured that the federal Health and Human Services agency operates with roughly $2 trillion in discretionary and mandatory funding. This means the agency can employ about 80,000 staffers, many of...more

Perkins Coie

IRS Announces Delay of Certain Periods for 1031 Transactions

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In response to the ongoing coronavirus pandemic (COVID-19), the Internal Revenue Service (the IRS) has taken additional actions intended to provide immediate relief to taxpayers. Delay of Identification and Acquisition...more

Seyfarth Shaw LLP

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

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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

Robins Kaplan LLP

Financial Daily Dose 3.11.2020 | Top Story: US Markets Officially Hit Bear Territory as COVID-19 Fallout Continues

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Go ahead and put Tuesday, March 11th in the history books. The same day the WHO declared the COVID-19 outbreak as an official pandemic, the US stock market’s 11-year bull run officially came to an end, with the Dow closing...more

Brownstein Hyatt Farber Schreck

Taxation & Representation - February 2020

TAX TIDBIT - New National Taxpayer Advocate. The Internal Revenue Service (IRS) announced that a new National Taxpayer Advocate will likely be in place by April. According to an internal memo sent by IRS Commissioner...more

Brownstein Hyatt Farber Schreck

Taxation & Representation - January 2020

Welcome to 2020! Although we have enjoyed the time off, we have been itching to get back into the swing of things. Since you have not seen Taxation & Representation in your inbox since the previous decade, we thought it was...more

Clark Hill PLC

Window On Washington - Vol. 4, Issue 3

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Outlook for This Week in the Nation’s Capital - Congress. The House is in recess this week and the Senate will begin the impeachment trial later this afternoon. ...more

Blank Rome LLP

Five Tax Benefits that Might Go Away if President Trump Is Not Reelected

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As the calendar turns to another presidential election year, it’s never too early to start thinking about tax preparation as the next occupant of the oval office will likely have a major impact on the nation’s tax laws and...more

Clark Hill PLC

Window On Washington - Vol. 4, Issue 2

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Outlook for This Week in the Nation’s Capital - Impeachment Update. House Speaker Pelosi (D-CA) announced that the House will vote on a resolution this week to send the two articles of impeachment against President Trump...more

Goodwin

New Law Brings Two Significant Changes for Tax-Exempt Organizations

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On December 20, 2019 the Taxpayer Certainty and Disaster Tax Relief Act of 2019 (the “Act”) was signed into law by President Trump as part of a broader spending bill. The Act results in two significant changes for tax-exempt...more

Robins Kaplan LLP

Financial Daily Dose 1.6.2020 | Top Story: Oil Futures Jump as Concerns Deepen Over Mideast Volatility

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Oil jumped for a second straight day, with futures near $70/barrel as fallout from the U.S.’s drone-strike assassination of Iran’s Qassem Soleimani continues to raise “the prospect of disruptions in the world’s most important...more

Polsinelli

IRS Confirms No “Clawback” for Gifts Made Under the Increased Estate and Gift Tax Exclusion

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On November 26, 2019, the Treasury Department and the IRS issued final regulations under IR-2019-189 confirming that there will be no “clawback” for gifts made under the increased estate and gift tax exclusion put in place by...more

Proskauer - Not for Profit/Exempt...

Repeal of Unrelated Business Income Tax on Qualified Transportation Fringe Benefits

Late on Friday, December 20, 2019, President Trump signed into law government funding legislation for the 2020 fiscal year that includes a provision repealing Section 512(a)(7), commonly referred to as the “parking tax.”...more

Kramer Levin Naftalis & Frankel LLP

New Section 162(m) Proposed Regulations

The Tax Cuts and Jobs Act of 2017 (TCJA) made significant changes to Section 162(m) of the Internal Revenue Code (Section 162(m)), expanding the scope of individuals and entities subject to Section 162(m), in addition to...more

Clark Hill PLC

Window On Washington - Vol. 3, Issue 48

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Outlook for This Week in the Nation’s Capital - The Window on Washington will not publish while Congress is in recess and will return to your inbox in the new year on January 6. ...more

Hogan Lovells

Congress passes FY 2020 funding bill with tax benefits for energy, health care, and retirement plans

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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

Clark Hill PLC

Window On Washington - Vol. 3, Issue 47

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Outlook for This Week in the Nation’s Capital - Appropriations. All signs are currently positive that the appropriations process will wrap up in time to meet the December 20 deadline....more

Clark Hill PLC

Window On Washington - Vol. 3, Issue 44

Clark Hill PLC on

Outlook for This Week in the Nation’s Capital - Recess. Congress is in recess until December 2 for the Thanksgiving holiday. Clark Hill wishes our readers a Happy Thanksgiving....more

Robins Kaplan LLP

Financial Daily Dose 11.25.2019 | Top Story: London denies Uber license, sowing chaos for its 45k drivers there

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The City of London has denied Uber’s request to extend its license in the city over concerns for rider safety. The decision puts Uber’s 45,000 drivers there in limbo, though they’ll be able to continue operating while the...more

Robins Kaplan LLP

Financial Daily Dose 11.16.2019 | Top Story: Aramco Seeks Valuation of $1.7B, Well below Original Goal

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Saudi Aramco’s slow trickle of IPO-related information continued this weekend, including its goal of setting overall company market value at a staggering $1.7 trillion. The figure, though massive, is still well short of the...more

Clark Hill PLC

Window On Washington - Vol. 3, Issue 42

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Outlook for This Week in the Nation’s Capital - Thank you to all who have served. Happy Veterans Day from Clark Hill....more

Clark Hill PLC

Window On Washington - Vol. 3, Issue 41

Clark Hill PLC on

Outlook for This Week in the Nation’s Capital - Impeachment Schedule. The House is in recess this week but will continue to hear testimony from a number of witnesses related to the impeachment probe....more

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