We recently had the opportunity to co-sponsor and present during the College & University Hotel Ownership Symposium (CUHOS), on March 4-5 at Harvard University. The biennial event, organized by Pinnacle Advisory Group,...more
On March 9, 2023, President Biden released his FY2024 budget (the “FY2024 Budget”), and the U.S. Treasury released the so-called “Green Book," which provides details related to the revenue provisions in the FY2024 Budget....more
Senators Manchin and Schumer this week announced that the “Inflation Reduction Act of 2022” will be added to the FY2022 Budget Reconciliation bill. The bill includes changes to Section 1061 of the Code (which was added to the...more
On March 28, 2022, President Biden released his FY2023 budget (the “FY2023 Budget”), and the U.S. Treasury released the so-called “Green Book,” which provides details related to the revenue provisions in the FY2023 Budget....more
4/12/2022
/ Base Erosion and Anti-Abuse Tax (BEAT) ,
Biden Administration ,
Capital Gains ,
Depreciation ,
Federal Budget ,
High Net-Worth ,
LIHTC ,
Regulatory Agenda ,
Tax Credits ,
Tax Rates ,
Tax Reform
The U.S. House Ways and Means Committee released proposed budget reconciliation legislation on September 13, 2021. The bill still must complete many steps in the legislative process – including passage by the full House of...more
9/28/2021
/ Base Erosion and Anti-Abuse Tax (BEAT) ,
Biden Administration ,
Capital Gains Tax ,
Corporate Taxes ,
Estate Tax ,
Foreign Derived Intangible Income (FDII) ,
Gift Tax ,
GILTI tax ,
High Net-Worth ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Proposed Legislation ,
Qualified Business Income ,
Tax Deductions ,
Tax Planning ,
Tax Reform ,
Ways and Means Committee
The massive Consolidated Appropriations Act, 2021 (the “Act”), providing year-end COVID-19 relief, was signed into law by President Trump on Sunday, December 27, 2020. Among other changes, the Act extends and makes clarifying...more
Summary -
On April 8, 2020, the Internal Revenue Service issued two Revenue Procedures to make it easier for taxpayers to benefit from retroactive changes to the tax law that were included in the recently enacted...more
Massachusetts General Laws Chapter 180, the Massachusetts corporate statute governing nonprofits, does not currently provide for emergency powers included in many of the model nonprofit acts adopted in other states....more
The following is a brief summary of recent tax related regulatory and legislative developments related to the COVID-19 pandemic, as of April 3, 2020. Federal and state guidance and guidelines are being modified constantly,...more
CARES Act (Coronavirus Aid, Relief, and Economic Security Act) -
Below is a summary of certain provisions of HR 748, the bill approved by the Senate on March 25, 2020. Please note that the legislation still requires...more
3/26/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Individual Retirement Account (IRA) ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Required Minimum Distributions ,
Small Business ,
Tax Relief
On December 22, 2017, the President signed into law H.R. 1, informally known as the “Tax Cuts and Jobs Act” (the “Act”), implementing sweeping changes to United States tax regimes for exempt organizations, businesses in which...more
12/28/2017
/ Charitable Donations ,
Charitable Organizations ,
Compensation & Benefits ,
Corporate Taxes ,
Excise Tax ,
Executive Compensation ,
Fringe Benefits ,
Income Taxes ,
Net Operating Losses ,
New Legislation ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Exempt Entities ,
Tax Rates ,
Tax Reform ,
Trump Administration ,
UBTI