On February 6, Congressional Republican leaders met with President Donald Trump to address the Trump Administration’s 2025 budget and tax priorities. During that meeting, the Trump Administration proposed to eliminate capital...more
2/13/2025
/ Capital Gains ,
Carried Interest ,
Federal Budget ,
Income Taxes ,
Investment Funds ,
Investment Management ,
IRS ,
Private Equity Firms ,
Tax Planning ,
Tax Reform ,
Trump Administration
The Inflation Reduction Act (IRA), which recently celebrated its one-year anniversary, presents new opportunities for tax-exempt and other organizations to directly benefit from renewable energy tax credits, including...more
9/1/2023
/ Income Taxes ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
New Guidance ,
Overpayment ,
Production Tax Credit ,
Public Utilities Commission ,
Renewable Energy ,
Tax Credits ,
Tax Exempt Entities ,
U.S. Treasury
On June 22, 2023, the US Senate passed a resolution consenting to the ratification of the Income Tax Treaty between Chile and the United States (Treaty). The resolution opens the door for President Biden to formally ratify...more
USD LIBOR is the last step in the long and winding road that has been LIBOR’s slow demise over the last several years as all other LIBOR instruments worldwide have already substantially transitioned.
As taxpayers prepare...more
While business owners wait to see whether Congress raises the U.S. long-term capital gains rate from 20 percent to 25 percent and enacts relief from the limitations on the deductibility of state and local taxes (SALT),...more
10/14/2021
/ Capital Gains ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Partnerships ,
Pass-Through Entities ,
S-Corporation ,
SALT ,
State Taxes ,
Tax Cuts and Jobs Act ,
Tax Liability
The House Ways and Means Committee advanced key tax reform proposals on September 15 that would increase taxes for corporations and high-income individuals.
Several tax reform proposals are under consideration as part of...more
9/23/2021
/ Base Erosion and Anti-Abuse Tax (BEAT) ,
Capital Gains ,
CARES Act ,
Carried Interest ,
Controlled Foreign Corporations ,
Corporate Taxes ,
Foreign Derived Intangible Income (FDII) ,
Foreign Tax Credits ,
GILTI tax ,
Income Taxes ,
Internal Revenue Code (IRC) ,
International Tax Issues ,
Net Investment Income ,
Qualified Small Business Stock ,
REIT ,
SALT ,
Surcharges ,
Tax Cuts and Jobs Act ,
Tax Increases ,
Tax Reform ,
Ways and Means Committee
At $1.9 trillion, the American Rescue Plan Act of 2021, signed into law by President Biden on March 11, 2021, is the largest aid package passed by Congress since the start of the pandemic. With the Rescue Act, Congress hopes...more
3/12/2021
/ American Rescue Plan Act of 2021 ,
CARES Act ,
Child Tax Credit ,
COBRA ,
Coronavirus/COVID-19 ,
Dependent Care ,
Economic Aid Act ,
Economic Injury Disaster Loans ,
Economic Stimulus ,
Grants ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Public Health ,
Restaurant Industry ,
Small Business ,
Small Business Loans ,
Student Loans ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Exemptions ,
Unemployment Benefits
On Monday, December 14, Senator Joe Manchin (D-WV) and Senator Susan Collins (R-Maine) introduced the “Emergency Coronavirus Relief Act of 2020,” which would provide another round of relief to combat the economic fallout...more
On July 24, the Massachusetts Department of Revenue (DOR), in collaboration with the Massachusetts Life Sciences Center (MLSC) and the Executive Office of Housing and Economic Development, promulgated Regulation 830 CMR...more
The Internal Revenue Service has expanded its previous relief measures with Notice 2020-23, which automatically extends key tax deadlines for all taxpayers that have a filing or payment deadline on or after April 1, 2020, and...more
4/14/2020
/ Coronavirus/COVID-19 ,
Corporate Taxes ,
Filing Deadlines ,
Filing Requirements ,
Income Taxes ,
IRS ,
Relief Measures ,
Statutory Deadlines ,
Tax Relief ,
Tax Returns ,
Time Extensions
The Treasury Department extends the US federal tax filing deadline from April 15 to July 15.
This week’s surge in the number of confirmed COVID-19 cases was accompanied by frequent responses at the federal level directed at...more
3/20/2020
/ Coronavirus/COVID-19 ,
Corporate Taxes ,
Federal Taxes ,
Filing Deadlines ,
Filing Requirements ,
Income Taxes ,
IRS ,
Relief Measures ,
Secretary of the Treasury ,
Tax Extensions ,
Tax Returns ,
Time Extensions ,
U.S. Treasury
On Wednesday, the Internal Revenue Service issued Notice 2020-17, providing relief to taxpayers amidst the economic fallout of the COVID-19 virus. Beyond taking a toll on public health, the global pandemic has disrupted...more