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Read need-to-know updates, commentary, and analysis on Tax issues written by leading professionals.
Pillsbury Winthrop Shaw Pittman LLP

The “Big, Beautiful Bill” Starts to Come into Focus: U.S. Ways & Means Committee Releases Proposed 2025 Federal Income Tax...

On May 9, 2025, the House Ways & Means Committee released its initial draft of President Trump’s “big, beautiful bill.” The bill will set the stage for extending the tax cuts enacted in 2017 as part of President Trump’s first...more

Eversheds Sutherland (US) LLP

Benefits Catch-Up - Q1 2025

With so much happening in the employee benefits world over the last few months, we bring you Benefits Catch-Up, our catch-up contribution to help you keep up with recent developments. Eversheds Sutherland’s US Employee...more

Cozen O'Connor

Cozen Cities - May 14, 2025

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BALTIMORE—Bill Introduced to Address Housing Shortage- On Monday, Mayor Brandon Scott (D) introduced his Housing Options & Opportunity Act, which aims to expand zoning laws for multi-family homes and provide more housing...more

NAVEX

The UK’s New Whistleblower Reward Scheme: A Turning Point for Tax Accountability

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In a landmark move, HM Revenue & Customs (HMRC) has announced plans to launch a formal whistleblower award program modelled on the highly successful U.S. Internal Revenue Service (IRS) Whistleblower Program. This initiative...more

Ward and Smith, P.A.

NC Legislature Considers Comprehensive Hemp Regulation: What Businesses Need to Know

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At Ward and Smith, we are closely monitoring these developments to help our clients with the potential impacts on their businesses. Below is an overview of what stakeholders in the hemp industry need to know about this...more

Carey Olsen

Why the Cayman Islands continues to be a popular jurisdiction for offshore funds

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Over the past 25 years, the Cayman Islands have established themselves as a leading jurisdiction for alternative investment funds, with nearly 13,000 regulated open-ended funds and over 17,000 regulated closed-ended funds. As...more

Snell & Wilmer

Morongo Band v. California: Reexamining Impermissible Compact Provisions

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California has become a battlefield for state versus tribal governance. As of May 6, 2025, the Morongo Band of Mission Indians (Morongo Band), a federally recognized Indian Tribe located in the State of California, filed suit...more

McGuireWoods LLP

Tax Bill Proposes Phasedowns in ITC and PTC, Limits on Transferability

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On May 12, 2025, the House Ways and Means Committee released a draft of the Republican-sponsored 2025 tax bill, which addresses a number of renewable and clean energy tax credit matters previously extended in the Inflation...more

Maynard Nexsen

Updated Compliance & Disclosure Interpretations on Rule 10b5-1

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On April 25, 2025, the Securities and Exchange Commission’s Division of Corporation Finance (the “SEC”) updated its Compliance and Disclosure Interpretations (“C&DI”) pertaining to Rule 10b5-1 trading plans, which provide an...more

Morgan Lewis

Taxation of Dividends Received by Non-Residents in Kazakhstan Starting 2026

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Kazakhstan will soon adopt a new tax code, with the bill currently in Parliament. It is expected that the new tax code will be adopted this year and come into force beginning 2026. This LawFlash summarizes the general...more

Kohrman Jackson & Krantz LLP

Reconciled But Risky: Can the $15 Million Exemption Make It Through Congress?

On May 12, the House Ways and Means Committee released its long-anticipated reconciliation package—an expansive tax and spending bill aimed at extending the 2017 Trump tax cuts and cementing key fiscal priorities before the...more

Blank Rome LLP

FAQ: Employee Stock Ownership Plans (“ESOPs”) in the Cannabis Industry

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Welcome to our latest blog post where we delve into the intricacies of Employee Stock Ownership Plans (“ESOPs”). Scott H. Moskol, a partner and co-chair of the Cannabis practice at Blank Rome, and Jason S. Luter, a partner,...more

Foley & Lardner LLP

High-Level Overview of certain Provisions Impacting Renewable Energy Incentives in “The One, Big, Beautiful Bill” Draft...

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May 12th, the House Ways and Means Committee released a package of tax provisions (the “Bill”) that includes claw backs of certain provisions of the Inflation Reduction Act. Note that this Bill is a draft only, has not been...more

ArentFox Schiff

IRS Workforce Reductions: Delays and Increased Legal Challenges

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A May 2 report from the US Treasury Inspector General for Tax Administration (TIGTA) found that as of March, the Internal Revenue Service (IRS) workforce had fallen by 11,443 employees, or 11%, due to probationary employee...more

Ropes & Gray LLP

Significant Changes for Tax-Exempt Organizations Included in House Ways and Means Committee Tax Package

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On May 12, the House Ways and Means Committee released its draft portions of “The One Big Beautiful Bill,” the expected tax package intended to extend expiring provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”) and to...more

Foster Garvey PC

Taxes in Washington State May Be Rising

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Many individuals, wanting to liberate their wallets from taxes, have moved to states like Washington, Nevada, Texas, Florida and other states that have friendly state and local tax regimes. This trend, especially for...more

Bowditch & Dewey

Income Tax and State Family Medical Leave Benefits

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Earlier this year, the Internal Revenue Service issued long awaited guidance on the taxation of paid family medical leave. The revenue ruling is effective for payments received on or after January 1, 2025....more

Clark Hill PLC

When does a converted entity or a merged entity need a new Employer Identification Number from the IRS?

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What is an EIN? An EIN is a federal tax ID number for an entity, estate, trust, or other organization. For example, the following are generally required to obtain an EIN: partnerships, limited liability companies (“LLC”),...more

Buckingham, Doolittle & Burroughs, LLC

Breaking Into the U.S. Market: Why Legal Guidance is Your First Investment

Expanding into the U.S. is a major milestone for many foreign companies. With its large consumer base, strong legal protections, and global influence, the United States remains one of the most attractive markets in the world....more

A&O Shearman

House Ways and Means Committee releases draft tax amendments for 2025 Reconciliation Bill

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On Friday, May 9, the House Ways and Means Committee released a portion of its draft tax legislation (the “House Draft Bill”) to amend the Internal Revenue Code of 1986 (the “Code”). The House Draft Bill is primarily...more

Sheppard Mullin Richter & Hampton LLP

Belgian DPA Finds Broad Tax Information Transfers to IRS Unlawful

The Belgian Data Protection Authority recently ruled that a Belgian government entity, FPS Finance, cannot transfer the personal data of “accidental Americans” to the IRS. According to the decision, the transfers needed to...more

Eversheds Sutherland (US) LLP

Eversheds Sutherland SALT Scoreboard – Quarter 1, 2025

This is the first edition of the Eversheds Sutherland SALT Scoreboard for 2025. Since 2016, we have tallied the results of what we deem to be significant taxpayer wins and losses and analyzed those results. Our entire SALT...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 2025 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Fox Rothschild LLP

New House Tax Bill Contains Several Key Provisions

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On Monday, Republicans unveiled their much anticipated Tax Bill (the “Bill”). At 389 pages, the Bill contains a number of provisions. Some are simply extensions of previous provisions that were sunsetting at the end of 2025....more

Foley & Lardner LLP

YA Global Heads to Appeals Court Over Tax Court Ruling on Offshore Fund’s U.S. Activities

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Share on LinkedIn Share on Twitter Print Share by Email Share Back to top Last month, YA Global Investments, LP (the “Fund”) filed a notice of appeal to the U.S. Court of Appeals for the Third Circuit, seeking review of the...more

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