This Client Advisory describes requirements that must be satisfied to qualify for the new “clean vehicle” tax credit, following enactment of the Inflation Reduction Act of 2022 (the “IRA”)....more
This client advisory addresses selected federal tax issues arising in connection with distressed debt transactions. Part I of the client advisory addresses tax issues arising at the debt holder (“Holder”) level and Part II,...more
On September 13, 2021, the House Ways and Means Committee released draft legislation advancing a series of tax proposals (the “Ways and Means Tax Proposals”). This episode of Kelley Drye's Legal Download discusses some of...more
On September 13, 2021, the House Ways and Means Committee released draft legislation advancing a series of tax proposals (the “Ways and Means Tax Proposals”). This Client Advisory discusses some of these proposals....more
The Biden administration (the “Administration”) last week released the “General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals,” commonly called the Treasury Department’s “Green Book.” The Green Book...more
In April 2021, New York State enacted legislation providing for a new elective pass-through entity (PTE) tax on partnerships and Subchapter S corporations. The 2017 Tax Cuts and Jobs Act generally limits an individual’s...more
The Democrats’ “sweep” of the White House and both chambers of Congress means that it is all but inevitable that tax legislation will be introduced in 2021, but the razor-thin nature of the Democrats’ majority in Congress...more
The Democrats’ “sweep” of the White House and both chambers of Congress means that it is all but inevitable that tax legislation will be introduced in 2021, but the razor-thin nature of the Democrats’ majority in Congress...more
The COVID-19 pandemic is having a profound impact upon commercial real estate. This Client Advisory discusses selected federal tax issues arising in connection with real estate distressed debt workouts. The issues arise in...more
On June 11, 2020, the Internal Revenue Service (the “IRS”) issued proposed regulations that define the term “real property” for purposes of Section 1031 of the Internal Revenue Code of 1986, as amended (the “Code”)....more
On October 19, 2018, the U.S. Department of the Treasury (“Treasury”) released the highly-anticipated Qualified Opportunity Fund (“QOF”) proposed regulations (the “Proposed Regulations”). This Client Advisory discusses...more
The recently enacted Tax Cuts and Jobs Act (the “Act”) created a new program to spur economic development by providing investors with significant tax benefits for investments in designated low-income census tracts known as...more
The U.S. Senate and the House of Representatives have just passed the “Tax Cuts and Jobs Act” (the “Act"). President Trump is expected to sign the bill into law later this week. Once enacted, the Act will be the most...more
12/21/2017
/ Alternative Minimum Tax ,
Corporate Taxes ,
Estate Tax ,
Gift Tax ,
Income Taxes ,
International Tax Issues ,
Local Taxes ,
Mortgage Interest ,
Net Operating Losses ,
Pass-Through Entities ,
State Taxes ,
Tax Deductions ,
Tax Rates ,
Tax Reform
The U.S. Senate passed the “Tax Cuts and Jobs Act” early Saturday. The House of Representatives passed its version of this tax legislation on November 16th. The House and Senate will now begin the process of reconciling...more
A multinational corporate group headed by a U.S. parent corporation is often at a competitive disadvantage compared to a multinational corporate group headed by a foreign corporation. While a multinational corporate group...more
U.S. real estate is expected to attract a record amount of foreign investment in 2016. The U.S. real estate market is perceived as a safe haven in light of economic uncertainty in China, the refugee crisis in Europe and the...more
The acquisition of a telecommunications service provider or a cloud-based service provider raises unique state and local tax issues that do not arise in connection with the acquisition of other businesses. Telecom and...more
3/22/2016
/ Acquisitions ,
Apportionment ,
Cloud Computing ,
Due Diligence ,
Income Taxes ,
Nexus ,
Representations and Warranties ,
Sales & Use Tax ,
State and Local Government ,
Stock Ownership ,
Telecommunications ,
Transfer Taxes