These proposed regulations applicable to tax-free spin-offs would impose a range of new substantive requirements and greatly expand the information that must be reported to the Internal Revenue Service ("IRS") by taxpayers...more
1/24/2025
/ Corporate Taxes ,
Filing Requirements ,
Internal Revenue Code (IRC) ,
IRS ,
NPRM ,
Proposed Regulation ,
Reporting Requirements ,
Spinoffs ,
Tax Liability ,
Tax Planning ,
Tax Reform ,
Tax Returns ,
Tax-Free Spin-Offs
The Department of Treasury and the IRS have released Notices 2025-10 and 2025-11, outlining intended forthcoming proposed regulations for the Section 45Z clean fuel production credit introduced by the Inflation Reduction Act...more
1/23/2025
/ Biodiesel ,
Clean Energy ,
Clean Fuels Program (CFP) ,
Climate Change ,
Greenhouse Gas Emissions ,
Inflation Reduction Act (IRA) ,
IRS ,
Proposed Regulation ,
Regulatory Agenda ,
Renewable Energy ,
Renewable Fuel ,
Tax Credits ,
Tax Reform ,
U.S. Treasury
Proposed IRS regulations clarify when fines and penalties are deductible but leave important issues unresolved.
The U.S. Internal Revenue Service has released proposed regulations clarifying when fines, penalties, and...more
Signed into law December 22, 2017, the "Tax Cuts and Jobs Act" represents the most comprehensive reform to the U.S. federal tax code in a generation. The Act's most notable provisions include significant reductions in both...more
1/16/2018
/ Affordable Care Act ,
Alternative Minimum Tax ,
Base Erosion Tax ,
Business Taxes ,
Corporate Taxes ,
Estate Tax ,
FIFO ,
Foreign Earned Income ,
International Tax Issues ,
Net Operating Losses ,
New Legislation ,
Pass-Through Entities ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Rates ,
Tax Reform
The Situation: On November 2, 2017, the House Ways and Means Committee released its first draft of much-anticipated comprehensive U.S. tax reform legislation as the "Tax Cuts and Jobs Act." Chairman Brady’s markup of the bill...more
11/7/2017
/ Acquisitions ,
Controlled Foreign Corporations ,
Corporate Taxes ,
Death Tax ,
EBITDA ,
Excise Tax ,
Executive Compensation ,
Foreign Corporations ,
Foreign Earned Income ,
Income Taxes ,
Internal Revenue Code (IRC) ,
International Tax Issues ,
Itemized Deductions ,
MACRS ,
Mortgage Interest ,
Net Operating Losses ,
Partnerships ,
Pass-Through Entities ,
Principal Executive Officer ,
Proposed Legislation ,
REIT ,
Section 409A ,
Shareholders ,
Subpart F ,
Tax Credits ,
Tax Deductions ,
Tax Reform ,
Transfer Taxes ,
Trump Administration ,
Ways and Means Committee
The Situation: The Trump Administration, in collaboration with the House and Senate, has introduced a Framework for tax reform legislation that could bring sweeping changes to U.S. tax laws....more
10/11/2017
/ Alternative Minimum Tax ,
Budget Reconciliation ,
Business Taxes ,
Corporate Taxes ,
Family Businesses ,
Foreign Subsidiaries ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Investors ,
Multinationals ,
Pass-Through Entities ,
Proposed Legislation ,
Repatriation ,
S-Corporation ,
Tax Rates ,
Tax Reform ,
Trump Administration
On April 26, 2017, the Trump Administration officially announced the President's tax reform plan in a one-page proposal calling for substantial business and individual tax cuts and the elimination of the AMT and many...more