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Troutman Pepper

IRS Issues Final Regulations on Section 45X Credits for Advanced Manufacturing Production Credit

Troutman Pepper on

On October 24, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued final regulations (Final Regulations) on the Advanced Manufacturing Production Credit (Section 45X Credit), pursuant to Section...more

Holland & Knight LLP

Amendments to International Trade Rules Bring Changes to the Mexican Certificate Scheme

Holland & Knight LLP on

The "Second Resolution of Amendments to the International Trade Rules for 2024 and to Annexes 1, 2, 5, and 24" was published on Oct. 14, 2024, in the Federal Official Gazette (Diario Oficial de la Federación), introducing...more

Goodwin

Horizon Scan for Private Investment Funds - Autumn 2024

Goodwin on

Welcome to the third edition of our Horizon Scan for 2024: key recent and expected funds, regulatory and tax developments to look out for. As before, we focus on the most important developments and changes that we expect...more

Goodwin

Key Takeaways from the Autumn Budget 2024

Goodwin on

Rachel Reeves, the first female Chancellor of the Exchequer in the role’s 800-year history, delivered Labour’s first budget in 14 years on the 30th October. We have set out below a brief summary of some of the tax measures...more

Baker Botts L.L.P.

Final Regulations Issued Regarding Section 45X Advanced Manufacturing Production Tax Credit

Baker Botts L.L.P. on

On October 28, 2024, the Internal Revenue Service (the “IRS”) and the Department of the Treasury (“Treasury”) published final regulations (the “final regulations”) regarding the Advanced Manufacturing Production Credit under...more

Foodman CPAs & Advisors

IRS IP PIN for the 2025 Tax Season

On 10/23/24, the IRS released Notice IR-2024-278 to encourage all taxpayers to sign up for an IRS IP PIN (identity protection personal identification number) to safeguard their identity and help protect against tax-related...more

Walkers

A Guide to debt securities issuers in Jersey

Walkers on

Jersey is a well-established jurisdiction of choice for issuing debt securities in international finance transactions. Recently, we have seen a steady increase in interest in Jersey debt securities issuers either for a...more

Butler Snow LLP

Texas Comptroller Releases a Report on Housing Affordability

Butler Snow LLP on

In August of this year, Texas Comptroller Glenn Hegar shared a Housing Affordability Challenge report, which examines the factors contributing to the housing affordability crisis across the U.S., how the crisis is affecting...more

Conn Kavanaugh

Affordable Homes Act Significantly Increases Homestead Exemption

Conn Kavanaugh on

On August 6, 2024, Governor Maura Healy signed the Affordable Homes Act (the Act”), legislation whose purpose is to address rising housing costs within the Commonwealth by implementing public investment, changes to zoning...more

Lowenstein Sandler LLP

Can’t Kick the Can Any More—How the Expiring Tax Cuts Could Affect You

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On this episode of “Splitting Heirs,” partner Warren K. Racusin, Chair of Lowenstein’s Trusts & Estates practice, invites Beth Shapiro Kaufman, Lowenstein Sandler partner and National Chair of the Private Client Services...more

Cooley LLP

UK Government Sets Tax Agenda

Cooley LLP on

On October 30, 2024, the Labour government delivered its first Budget since assuming power in July 2024. The Budget is the main annual fiscal event in the UK, and yesterday’s announcements were an important opportunity for...more

Kilpatrick

Key Takeaways from the Chicago Tax Club Fall Seminar

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Kilpatrick partners Sam Breslow, David Hughes, and Jeff Reed recently spoke during three separate sessions at the prestigious 70th annual Chicago Tax Club Fall Seminar....more

BCLP

Autumn Budget 2024 - 10 Key Tax Points for Business

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Yesterday, 30 October 2024, the Chancellor announced that the Autumn 2024 budget will raise taxes by £40bn, the biggest raise since 1993. While the Autumn budget arguably does not portray as pessimistic an outlook for...more

Morgan Lewis

UK Government Updates Tax Regime for Carried Interest

Morgan Lewis on

As part of the Autumn Statement, the UK government on 30 October 2024 announced a reform of its taxation of carried interest. This follows a call for evidence on the reform of the UK taxation treatment of carried interest in...more

BCLP

Autumn Budget 2024 - Carried Interest: A New Regime Incoming

BCLP on

Yesterday, the Government announced that the CGT rates for carried interest arising on or after 6 April 2025 will increase to 32%, in line with the 4% increase to the higher rate of CGT which took effect immediately. That is...more

Cohen & Gresser LLP

HMRC R&D Fraud Arrests: A New Era for Tax Enforcement?

Cohen & Gresser LLP on

On 30 October 2024, the Government published its highly anticipated Autumn Budget 2024 (the “Budget”). Among measures promised to “fix the foundations of the economy” is the Government’s commitment to implement “the most...more

Paul Hastings LLP

The U.K. Budget: Eye Openers and Opportunities

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On 30 October 2024, the Labour Government delivered their first Budget since taking office. A wide range of changes were announced to taxation and public spending, and the team in the London office of Paul Hastings have...more

Manatt, Phelps & Phillips, LLP

How States Support Safety Net Hospitals through Innovative Funding Approaches

Key Takeaways: Importance of Safety Net Hospitals: Safety net hospitals are crucial for health equity, providing essential services to marginalized communities – including behavioral health and trauma care – despite...more

Gray Reed

How to Haunt the IRS: Daugerdas v. Commissioner

Gray Reed on

In a bench opinion dated September 27, 2024, the Tax Court sustained a Notice of Federal Tax Lien but not the proposed levy against Daugerdas, a convicted tax shelter promoter in home confinement in Illinois....more

Cadwalader, Wickersham & Taft LLP

The UK Government’s Autumn Budget 2024

The Chancellor of the Exchequer delivered the United Kingdom (“UK”) Budget for 2024 on 30 October 2024. The Budget was the first to be delivered by the new Chancellor of the Exchequer, following the election of the Labour...more

Dechert LLP

Labour Budget 2024: Reforms to the Taxation of Carried Interest

Dechert LLP on

The Chancellor of the Exchequer, Rachel Reeves MP, presented her first Budget to Parliament on 30 October 2024. In it, she announced both tax rate increases and also proposals which would fundamentally change the tax...more

Baker Donelson

Corporate Transparency Act and Tax-Exempt Entities

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This alert provides an overview of the Corporate Transparency Act (CTA) and explains the procedures that a newly formed tax-exempt entity must undertake in order to comply with the CTA....more

Fox Rothschild LLP

Not all FedEx’s are created equal, at least when it comes to service

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A party trying to serve their pleading used FedEx, but not the right FedEx. Turns out there are a slew of similarly-named FedEx’s, but only certain ones are approved “designated delivery services” under Rule 4. They used...more

BCLP

Autumn Budget 2024 - What’s the Tax Impact on the Real Estate Sector?

BCLP on

The real estate sector was not ignored by Budget announcements today. There were no seismic changes – the changes announced were less impactful than the speculation in the weeks preceding the Budget....more

Orrick, Herrington & Sutcliffe LLP

Legal Ninja Snapshot: #ESOP & Flips — U.S. ESOPs May Become Available for the Employees of the German Subsidiary

Much has been written about the unsatisfactory tax situation of German employees when it comes to equity-based employee stock (option) programs ("ESOP"). Historically, employees were taxed at the time of issuance of shares...more

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