Welcome to this week’s edition of Tax Bytes. Our team of tax lawyers is actively monitoring for federal and international tax developments and issues of note. Each week we pull together the items we deem most important to...more
As the “One Big Beautiful Bill” continues its legislative path through Congress, it remains too close to call on how the final legislation will impact the sports industry. On May 22, 2025, the House of Representatives...more
5/27/2025
/ Colleges ,
Educational Institutions ,
Excise Tax ,
Federal Budget ,
Internal Revenue Code (IRC) ,
Proposed Legislation ,
Sports ,
Tax Deductions ,
Tax Liability ,
Taxation ,
Trump Administration ,
UBIT ,
Universities
Welcome to this week’s edition of Tax Bytes. Our team of tax lawyers is actively monitoring for federal and international tax developments and issues of note. Each week we pull together the items we deem most important to...more
5/21/2025
/ Business Taxes ,
EBITDA ,
Employee Benefits ,
Employee Retention ,
Excise Tax ,
Legislative Agendas ,
New Legislation ,
Proposed Legislation ,
Reporting Requirements ,
Senate Committees ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Exempt Entities ,
Tax Reform ,
U.S. House ,
Ways and Means Committee
On May 12, 2025, the Republicans from the House Committee on Ways and Means released an updated draft tax bill. Several of the provisions in the draft would affect tax-exempt organizations. The bill will almost certainly...more
5/19/2025
/ Charitable Deductions ,
Colleges ,
Excise Tax ,
Legislative Agendas ,
Private Foundations ,
Proposed Legislation ,
Tax Exempt Entities ,
Tax Rates ,
Tax Reform ,
U.S. House ,
Universities ,
Unrelated Business Income Tax ,
Ways and Means Committee
On October 7, 2024, the Department of Treasury (Treasury) and the Internal Revenue Service (IRS) issued proposed regulations (Proposed Regulations) clarifying the federal tax classification of certain entities wholly owned by...more
10/24/2024
/ Entity Classification ,
Income Taxes ,
Indian Reorganization Act ,
Inflation Reduction Act (IRA) ,
IRS ,
New Regulations ,
Proposed Regulation ,
Regulatory Agenda ,
Tribal Corporations ,
Tribal Governments ,
U.S. Treasury
On July 23, 2024, the United States Court of Appeals for the District of Columbia Circuit (Court of Appeals) released a decision in Rawat v. Commissioner (available here). The case considers whether the portion of a non-US...more
8/14/2024
/ Appeals ,
Chevron Deference ,
Government Agencies ,
Internal Revenue Code (IRC) ,
IRS ,
Loper Bright Enterprises v Raimondo ,
Regulatory Authority ,
Regulatory Requirements ,
SCOTUS ,
Statutory Authority ,
Statutory Interpretation ,
U.S. Treasury
On December 4, 2023, the Department of Energy (DOE), Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) published related proposed guidance on the eligibility of an electric vehicle for the section...more
1/10/2024
/ Automotive Industry ,
Batteries ,
China ,
Clean Car Standards ,
Clean Energy ,
Department of Energy (DOE) ,
Electric Vehicles ,
Foreign Entities ,
Infrastructure Investment and Jobs Act (IIJA) ,
Iran ,
IRS ,
Minerals ,
Motor Vehicles ,
North Korea ,
Proposed Guidance ,
Russia ,
Tax Credits ,
U.S. Treasury