The Senate passed a version of the Tax Cuts and Jobs Act that differs significantly from the House-passed bill but still contains several similar proposals that lower individual and business tax rates, completely revamp the...more
12/5/2017
/ Alternative Minimum Tax ,
Business Taxes ,
Corporate Taxes ,
Income Taxes ,
International Tax Issues ,
Legislative Agendas ,
Net Operating Losses ,
Pass-Through Entities ,
Proposed Legislation ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Trump Administration
The Senate Finance Committee Chairman’s Mark for the “Tax Cuts and Jobs Act,” released Nov. 9, describes in detail the Senate tax bill and is significantly different than the House bill, as it currently stands....more
11/14/2017
/ Alternative Minimum Tax ,
Business Taxes ,
Corporate Taxes ,
Estate Tax ,
Income Taxes ,
International Tax Issues ,
Legislative Agendas ,
Mortgage Interest ,
Pass-Through Entities ,
Proposed Legislation ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Trump Administration
This update to our Tax Alert on Nov. 2nd describes additional key provisions in the “Tax Cuts and Jobs Act” (H.R. 1), released by the Chairman of the House Ways and Means Committee on Nov. 2nd, as well as the Chairman’s...more
11/8/2017
/ Compensation & Benefits ,
Deferred Compensation ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Legislative Agendas ,
Repeal ,
Section 409A ,
Tax Code ,
Tax Planning ,
Tax Reform ,
Trump Administration
On November 2, 2017, the House Ways and Means Committee released the “Tax Cuts and Jobs Act” (H.R. 1). Key elements include reducing the tax rate on corporations to 20%, and reducing the tax rate paid on income earned by...more
11/3/2017
/ 401k ,
Alternative Minimum Tax ,
Business Taxes ,
Charitable Donations ,
Child Tax Credit ,
Contribution Limits ,
Corporate Taxes ,
Employee Benefits ,
Estate Tax ,
Income Taxes ,
Local Taxes ,
Mortgage Interest ,
Pass-Through Entities ,
Retirement Plan ,
State and Local Government ,
State Taxes ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Trump Administration
Comprehensive tax reform that lowers business and individual tax rates, streamlines the tax code, and allows U.S. businesses to become more competitive in the global economy are among the top priorities of the Trump...more
Recent amendments to the Internal Revenue Code of 1986 (the Code) have significantly expanded the opportunity for tax savings under Section 1202. Section 1202, which was originally added to the Code in 1993, provides relief...more
6/29/2016
/ Alternative Minimum Tax ,
Capital Gains ,
Gain Exclusion ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Protecting Americans from Tax Hikes (PATH) Act ,
Qualified Small Business Stock ,
Small Business ,
Stock Purchase Agreement ,
Stocks
On December 18, 2015, President Obama signed the Protecting Americans from Tax Hikes Act of 2015 (the “PATH Act”) after both houses of Congress voted to approve the budget measure and comprehensive spending bill. The PATH Act...more
On July 23, 2015, the Internal Revenue Service (“IRS”) issued a Notice of Proposed Rulemaking (the “Notice”) which proposed Treasury regulations under Section 707(a)(2)(A) of the Internal Revenue Code of 1986, as amended (the...more
On Tuesday, April 27, 2015, Missouri Governor Jay Nixon signed House Bill 384, which creates a Tax Amnesty Program for taxes administered by the Missouri Department of Revenue. This includes state income taxes, franchise...more
In This Issue:
- Deferred Earnings and Profits of CFCs
- Code Section 956(e)
- Code Section 7701(l)
- Code Section 304(b)(5)(B)
- Code Section 7874
- Request for Comments
-...more
In This Issue:
- Solar Sites
- The Proposed Regulations
- Intangible Assets
- Distinct Assets
- Examples in the Proposed Regulations
- Effective Date
- Excerpt from Solar Sites:
A key...more
In this issue, we address important new Missouri tax changes that were passed on May 6, 2014 after the Missouri Legislature overruled Governor Jay Nixon's veto. The legislation modifies the individual income tax rate table by...more
In this e-Alert, we address the recent United States Supreme Court decision in U.S. v. Quality Stores, Inc., et al, No. 12-1408 (Sup. Ct. 03/25/2014), whereby the United States Supreme Court unanimously overturned the prior...more
On January 29, 2014, the Internal Revenue Service (IRS) proposed Treasury regulations under Section 752 of the Code which would change the way in which both partnership recourse and nonrecourse liabilities are allocated. The...more
After much contention,Congress passed the American Taxpayer Relief Act of 2012, and President Obama signed the legislation on January 2, 2013. The Act avoids automatic sunset provisions that were scheduled to take effect...more
1/22/2013
/ Alternative Minimum Tax ,
American Taxpayer Relief Act ,
Bush-Era Tax Cuts ,
Business Taxes ,
Capital Gains ,
Dividends ,
Energy Tax Incentives ,
Estate Tax ,
FICA Taxes ,
Fiscal Cliff ,
Income Taxes ,
Itemized Deductions ,
Tax Rates
In its recent decision, the United States Court of Appeals for the Sixth Circuit in U.S. v. Quality Stores, Inc., No. 10-1563 (6th Cir., 9/7/2012) held that certain severance payments made to former employees were not subject...more