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Cos. Should Heed IRS Warnings About Employee Tax Credit

For most businesses, turning the calendar to 2023 meant putting the pandemic and any of its tax-related effects further in the rearview mirror. One notable exception, however, is the employee retention credit, or ERC,...more

The Tax Man Cometh: Tax Perils in Physician Recapitalization Transactions

Physician recapitalization transactions are complex by nature and often present myriad issues. At Foley, in our representation of both investors in, and sellers of, physician practices, we note how often tax issues become...more

Tax Provisions in the Inflation Reduction Act of 2022

On August 7, 2022, the Senate passed a major climate, health and tax bill through the budget reconciliation process. The bill, named the Inflation Reduction Act of 2022, is expected to be taken up by the House of...more

Potential Changes to the Capital Gains Tax Rate

The Biden Administration released further information about its plans for changes to the capital gain rate. Under the proposal, a new capital gain rate would apply to capital gains recognized after the date of the proposal....more

Introduction to Family Offices

Each family office we work with is unique to the situation and needs of the family it serves. The key to success is identifying the right business and tax objectives—we take a very client specific approach. In working with...more

CARES Act – Will PPP Loans Impact Employee Retention Credit in M&A Transactions?

Participants in M&A transactions may lose eligibility, possibly retroactively, for the “employee retention credit” under Section 2301 of the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) if a party to the...more

IRS Issues Guidance on FFCRA Paid Leave Tax Credits – Updated as of April 24, 2020

The IRS issued guidance on the FFCRA Paid Leave Tax Credits under the Families First Coronavirus Response Act (“FFCRA”) on March 31, 2020. The FFCRA Paid Leave Tax Credits are fully refundable tax credits giving covered...more

IRS Issues Guidance on Employee Retention Credits Under CARES Act – Updated as of April 24, 2020

The IRS issued guidance on the Employee Retention Credits under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) on March 31, 2020 and the Joint Tax Committee provided additional legislative history in the...more

IRS Extends Deadlines for Section 1031 Like-Kind Exchanges and Qualified Opportunity Zone Investments

The IRS extended the timelines for certain taxpayers engaging in Section 1031 like-kind exchanges or making investments in Qualified Opportunity Zone Funds. The IRS extensions only apply to deadlines that fall between April...more

CARES Act – Summary of Tax Provision

The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which was signed by the President on March 27, 2020, includes several provisions affecting taxes. SEC. 2201. 2020 Recovery Rebates for Individuals...more

Tax Act Sweetens the Pot for Corporate Divestitures

The Tax Cuts and Jobs Act of 2017 contains some of the most significant changes in tax laws in more than a generation. While the full implications of the Tax Act are still coming into focus, the magnitude of these changes...more

Tax Planning Strategy Under the New Tax Cuts and Jobs Act

Late in 2017, the Tax Cuts and Jobs Act was passed. It will take effect in 2018. The Tax Cuts and Jobs Act eliminated or limited a number of different tax preference items...more

Exclusion for Qualified Small Business Stock

The Protecting Americans from Tax Hikes Act, passed in December 2015, extended an often overlooked provision of the tax code with the potential to provide significant savings to small business owners and non-corporate...more

Tax Law

In This Chapter: Tax Law: Annual Survey of Wisconsin Law - - Case Law - Statutory Developments - Administrative Developments - Excerpt from Case Law: Individual and Fiduciary Income Tax...more

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