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Tax Updates

Read need-to-know updates, commentary, and analysis on Tax issues written by leading professionals.

Legislative developments: Tech sector dodges blow and picks up limited win under tax reform bills—for now

by Dentons on

Technology sector startups and other emerging growth companies that typically rely on equity compensation to attract talent should be relieved—for now—by the Tax Cuts and Jobs Act bill (HR 1) passed by the House on November...more

Personal Planning Strategies - December 2017

by Proskauer Rose LLP on

2018 Estate, Gift and GST Tax Update: What This Means for Your Current Will, Revocable Trust and Estate Plan - As we previously reported, the American Taxpayer Relief Act of 2012 (the "Act") made the following permanent:...more

Considerations for Asian Fund Managers under the U.S. New Partnership Audit Regime

The Bipartisan Budget Act of 2015, as modified by the Protecting Americans from Tax Hikes Act of 2015, resulted in a fundamental change in the way the U.S. Internal Revenue Service (IRS) will conduct audits of collective...more

West Coast Real Estate Update - November 2017 #2

by Holland & Knight LLP on

Absence of Private Activity Bonds from House Tax Proposal Could Hurt Affordable Housing - While a lot of people are discussing the ways in which the tax proposals coming out of Congress will impact personal and corporate...more

Federal Employment Taxes: Penalties and Interest

by McNair Law Firm, P.A. on

Employers that pay wages and other forms of compensation to their employees must comply with federal tax return filing and payment/deposit requirement. Employers that receive services from non-employee contractors and which...more

Real Market Values and "Compression" – Property Taxes Continue to Climb in Oregon

by Tonkon Torp LLP on

One of the most significant reasons taxes have increased so much this year is "Compression." Due to Measure 5, Oregon's constitution limits the amount of taxes that can be collected from each property for two categories...more

Federal Income Tax Alert - BIG Changes in IRS Partnership Tax Audit Rules Coming in 2018

by GableGotwals on

Changes in federal tax law taking effect in 2018 will change procedure and shift liability for federal income tax determined to be due in Internal Revenue Service (“IRS”) audits of partnerships. Partnership agreements,...more

French Legal and Regulatory Update – October 2017

by Hogan Lovells on

The Paris office of Hogan Lovells is pleased to provide this English language edition of our monthly e-newsletter, which offers a legal and regulatory update covering France and Europe for October 2017. Please see full...more

Major Changes Proposed to UK Tax Regime for Non-resident Investors in UK Commercial Property

by Proskauer - Tax Talks on

The UK Government has announced in today’s Budget (22 November) that it is launching a consultation on extending the scope of UK tax on real estate. Currently, non-UK residents who are investors in UK land and buildings...more

Paradise Papers, Panama Papers…. The Message is Clear: Report Offshore Accounts!

by Foodman CPAs & Advisors on

First, the Panama Papers, and now… the Paradise Papers. The Paradise Papers contain the names of approximately 31,000 US citizens, including entities, or persons with US addresses....more

IRS Form 14764: Response to Proposed Assessment of 2015 Employer Mandate Tax

by Balch & Bingham LLP on

On November 17, the IRS published the Form that Applicable Large Employers must use to respond to IRS letters regarding proposed assessment of 2015 employer mandate taxes. Form 14764 is a paper, mail-in “ESRP Response” that...more

Preparing for the Repeal of Cook County’s Beverage Tax: Requesting Credits and Refunds

by McDermott Will & Emery on

Earlier this fall, the Cook County Board voted to repeal its constitutionally suspect, politically unpopular one cent per ounce sweetened beverage tax (Tax). The short-lived Tax will expire at the end of the County’s fiscal...more

Shake Everything You’ve Got! The Scramble for Year-End Tax Strategies Part I

by Gerald Nowotny on

Overview - Like most “Baby-boomers,” I have also been a music aficionado. I was a horn player -trombone and baritone- in junior high school and high school. By all accounts I was a pretty average musician (at best), but I...more

IRS Begins Issuing ACA Employer Mandate Penalty Notices

by Stinson Leonard Street on

Recently, the Internal Revenue Service (IRS) indicated that it would begin enforcing the Affordable Care Act (ACA) Employer Shared Responsibility provisions (commonly known as the "Employer Mandate"). Last week, the IRS...more

Proposed Tax Reform Bills of Senate and House Now Aligned on Key Compensation and Benefits-Related Tax Provisions

This WSGR Alert provides a high-level comparison of the latest tax reform proposals from the U.S. House of Representatives and the U.S. Senate as they relate to compensation and benefits matters....more

Tax Reform/Tax Cuts, Who Cares? Tax Gross Up Damages Are Available Under Title VII

by Foley & Lardner LLP on

Tax reform legislation is certainly one of the hottest topics in the media. Among others, several of the pressing questions regarding the proposed legislation are: Will it pass? If so, who will receive tax relief (and who...more

Private Equity and Other Carried Interest Funds – Federal Tax Policy Tip Sheet: Issue 4

by Holland & Knight LLP on

The House of Representatives on Nov. 16, 2017, voted on and passed their tax reform bill, along party lines (227-205). Passage was expected in the House, where the GOP hold a significant enough majority needed to move the...more

Emerging Private Fund Manager Guide for Raising Institutional Investor Capital

by Foley & Lardner LLP on

Public and private pension plans, endowments, hedge funds and other institutional investors are investing trillions of dollars annually with alternative asset managers. Many of these fund managers are well-established with a...more

Proposed tax legislation affecting private equity

by Dentons on

As you may be aware, on November 2 the House of Representatives introduced a comprehensive tax reform bill that could affect private equity sponsors, investors and portfolio companies. On November 9, the Senate Finance...more

2017 Year-End Estate Planning Advisory

by Katten Muchin Rosenman LLP on

The fourth quarter of 2017 concludes a unique year in the planning arena. With the new administration and a Republican-led Congress in power, both taxpayers and tax professionals have kept a close eye on the potential for tax...more

What If You Are Ineligible For The Offshore Voluntary Disclosure Program? Attorney Proffers versus Quiet Disclosures

by Sanford Millar on

Since the beginning of the current Offshore Voluntary Disclosure Programs (OVDP) in 2009 tens of thousands of U.S. taxpayers have come forward to report previously undisclosed foreign financial accounts. The addition of the...more

House and Senate Legislators Take Significant Steps Toward Tax Reform

by Ropes & Gray LLP on

On Thursday, November 16, 2017, House and Senate legislators took significant steps towards achieving the most extensive tax reform in over a decade, with the passage of the Tax Cuts and Jobs Act by the House of...more

Let’s Talk Municipal Finance - Tax Anticipation Notes and Bond Anticipation Notes

by PretiFlaherty on

In this installment of the Let's Talk Municipal Finance series, I will discuss two short-term alternatives to the issuance of long-term bonds for municipalities to access needed funds. These alternatives have a shorter...more

2017 End of Year Plan Sponsor “To Do” List Qualified Retirement Plans (Part 4)

by Snell & Wilmer on

As 2017 comes to an end, we are pleased to present you with our traditional End of Year Plan Sponsor “To Do” Lists. This year, we are publishing our “To Do” Lists in four separate Employee Benefits Updates. Part 1 covered...more

Davis Tax Committee report

by Hogan Lovells on

The Davis Tax Committee (the Committee) released a further report on "Tax Administration" on 13 November 2017 as part of the final six reports that were deliverable by the Committee. ...more

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