With 2025 underway, the AFS Health Care team highlights some of the most pressing legal issues facing the health care industry this year....more
The 2024 election year promises to make taxes front-of-mind for many business and individual taxpayers. Beyond the election, there are other note-worthy developments, along with several highly anticipated tax law cases that...more
2/16/2024
/ Child Tax Credit ,
Employee Retention ,
Enforcement Actions ,
Green Energy ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
OECD ,
SCOTUS ,
Tax Code ,
Tax Credits ,
Tax Cuts and Jobs Act
The Inflation Reduction Act (IRA), enacted in August 2022, appropriated billions of dollars in additional funding to the Internal Revenue Service (IRS). The IRS has begun allocating funds, including investing in artificial...more
10/11/2023
/ Artificial Intelligence ,
Audits ,
Compliance ,
Enforcement ,
FBAR ,
GAO ,
Hedge Funds ,
Inflation Reduction Act (IRA) ,
IRS ,
Publicly-Traded Companies ,
Real Estate Investments
The Internal Revenue Service (IRS) has issued guidance on the pharmaceutical excise tax that may apply to certain drug manufacturers, producers, and importers that fail to negotiate a drug-pricing agreement with the US...more
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 9, 2023, US House Ways and Means Committee Chairman Jason Smith introduced the American Families and Jobs Act, which would have major implications for several provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) and...more
On November 29, 2022, the Internal Revenue Service (IRS) and the Treasury issued a Notice of Initial Guidance (the Notice), which provides the first round of guidance with respect to the prevailing wage requirements and...more
Passed in August of this year, the Inflation Reduction Act (IRA) was heralded by many as a landmark piece of climate legislation in the United States. The IRA’s tax credits for electric vehicles were among its most...more
10/14/2022
/ Batteries ,
China ,
Climate Change ,
Electric Vehicles ,
Free Trade Agreements ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
IRS ,
Manufacturers ,
MSRP ,
Tariffs ,
Tax Credits ,
Trade Relations ,
United States-Mexico-Canada Agreement (USMCA) ,
WTO
Following the enactment of the Inflation Reduction Act (IRA) on August 16, the US Treasury Department (Treasury) and the Internal Revenue Service (IRS) recently issued six notices (the “Notices”) requesting comments on...more