News & Analysis as of

Tax Franchise

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

Trump May Revive Effort to Close Carried Interest Loophole

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President Trump is meeting with Republican lawmakers to discuss potential tax code changes, including a proposal to eliminate the carried interest tax break. White House Press Secretary Karoline Leavitt announced the...more

Miller Canfield

IRS Issues Proposed Regulations on Secure 2.0 Catch-Up Provisions

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The IRS issued Proposed Regulations last month which provide helpful clarity for employers on how to implement and comply with two new SECURE 2.0 provisions relating to catch-up contributions....more

Freeman Law

Texas 89th Legislative Regular Session Features Several Tax Proposals

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On January 14, 2025, the 89th Regular Session of the Texas Legislature began. In just under one month, various Texas representatives have made a number of proposals to amend the Texas Tax Code that could have a significant...more

DLA Piper

Chile's Internal Revenue Service Publishes It's 2025 Tax Schemes Catalog

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Each year, the Internal Revenue Service of Chile (SII) updates its Tax Schemes Catalog. This guide contains a list of operations that may be declared elusive by applying the General Anti-Elusiveness Rule. The catalog's...more

Davis Wright Tremaine LLP

Watch the Sunset: Federal Estate Exclusion Set To Shrink in 2026; New Changes on the Horizon

The 2017 Tax Cuts and Jobs Act (TCJA) is set to end at the close of this year, resulting in a federal estate exclusion that is less than half of the current $13.99 million exclusion. Other changes to the tax structure are...more

Verrill

Solo 401(k) Plans: A Quick Fix-It Guide

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“Solo 401(k)” is a marketing term used for a 401(k) plan that is adopted by a sole proprietor or an incorporated business with no employees other than the owner. These plans offer a greater retirement savings opportunity...more

Mayer Brown

ICMS Levy in the Transfer of Goods: STF Concludes Trial on Theme 1,367 of General Repercussion and Effects of Modulation of ADC 49...

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On February 4, 2025, and by unanimous vote, the Brazilian Supreme Court’s (STF) Plenary confirmed that the non-levy of ICMS will only apply from the 2024 fiscal year, with the exception of administrative and judicial...more

Mayer Brown

Réforme du régime des gains de Management Packages par le PLF 2025

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Le projet de loi de finances pour 2025 tel que modifié le 31 janvier 2025 en commission mixte paritaire et adopté via la procédure de l’article 49-3 de la Constitution (le « PLF 2025 ») introduit un régime spécifique aux...more

Mayer Brown

Empresas devem preencher o Relatório de Transparência Salarial até 28 de fevereiro

Mayer Brown on

Empresas com mais de 100 (cem) empregados devem informar critérios remuneratórios e ações de promoção de diversidade até o dia 28 de fevereiro, por meio do Portal Emprega Brasil. As informações coletadas subsidiarão o...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 16 - February 2025

Wednesday was a rainy day outside the Georgia State Capitol, but the inside of the building was brightened considerably by a few glowing golden retrievers trotting through the halls. Several pups from Children’s Healthcare of...more

McDermott Will & Emery

IRS Roundup January 20 – 31, 2025

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Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the weeks of January 20, 2025 – January 24, 2025, and January 27, 2025 – January 31, 2025....more

Patterson Belknap Webb & Tyler LLP

New Proposed Catch-Up Contribution Regulations Answer Many Questions

Background - Many defined contribution plans are designed to permit participants to take advantage of an increased employee contribution limit starting the year they turn 50....more

Foster Garvey PC

A Journey Through Subchapter S / A Review of The Not So Obvious & The Many Traps That Exist For The Unwary: Part XV – Being an...

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In this Part XV of my multi-part series on some of the not-so-obvious aspects of Subchapter S, I explore a potential advantage that the S corporation has over the C corporation. The Patient Protection and Affordable Care...more

Cooley LLP

Proposed Regulations Issued Under Internal Revenue Code § 162(m)

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Changes effective starting on January 1, 2027 - In the last few days preceding President Donald Trump’s inauguration, the IRS under the Biden administration proposed regulations to implement amendments to Internal Revenue...more

Orrick, Herrington & Sutcliffe LLP

Tech-Neutral Credits Final Regulations Released for Clean Electricity Production

The U.S. Department of the Treasury (Treasury) and Internal Revenue Service (IRS) have released final regulations for two new tax credits under the Internal Revenue Code (Code), established by the Inflation Reduction Act...more

ArentFox Schiff

Let It Be…Taxed? The Carried Interest Debate Continues

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On February 6, Congressional Republican leaders met with President Donald Trump to address the Trump Administration’s 2025 budget and tax priorities. During that meeting, the Trump Administration proposed to eliminate capital...more

Proskauer - Tax Talks

Final Regulations Issued on Allocation of Partnership Liabilities Under Section 752

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On December 2, 2024, the U.S. Department of the Treasury (“Treasury”) and the Internal Revenue Service (the “IRS”) published final regulations (the “Final Regulations”) on section 752 regarding the allocation of partnership...more

Orrick, Herrington & Sutcliffe LLP

Treasury and IRS Release Guidance on Clean Fuel Production Credit

The U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) have released a notice of intent to propose regulations and a notice providing the annual emissions rate table for the Clean Fuel...more

Allen Barron, Inc.

The Taxpayer Bill of Rights - 10 Essential Rights for U.S. Taxpayers

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Are you aware of the Taxpayer Bill of Rights?  We are reminded, especially during tax season, that taxpayers have 10 essential rights when dealing with the Internal Revenue Service. The IRS expects its employees to understand...more

Katten Muchin Rosenman LLP

International Philanthropy: Considerations for the Globally Minded Donor

Many of our clients are interested in engaging in global philanthropy. These individuals often want to benefit charitable causes outside of the United States while still being able to maintain an income tax deduction for...more

Fox Rothschild LLP

New 25% Tariffs on Steel and Aluminum Take Effect March 12: What You Need to Know

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President Trump issued a Proclamation that expands the 25% tariffs on steel and steel derivatives, first imposed in 2018 under Section 232 of the Trade Expansion Act of 1962. Aluminum and aluminum derivatives will also now...more

Troutman Pepper Locke

Missouri Legislature’s Proposals to Regulate Hemp-Derived Consumable Products

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Last year, we wrote about the former Missouri governor’s efforts to curb the availability of intoxicating hemp products to Missouri consumers by executive order. There are now several proposed bills in the Missouri...more

Gerald Nowotny - Law Office of Gerald R....

Pra Dizer Adeus (To Say Goodbye) – A Homage to Sergio Mendes and a Little Bit About Tax Planning for PPLI for Trial Lawyers

Litigation attorneys have had the ability to defer contingency fees since 1994. You are hard pressed to find another profession that has this tax advantage. Hedge fund managers have been running and winning the “Death Race”...more

Pullman & Comley, LLC

Jurisdiction 101: Connecticut Supreme Court Hands Down Win For Taxpayers

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In a victory for taxpayers across the nutmeg state, the Connecticut Supreme Court recently held in 7 Germantown Rd., LLC v. City of Danbury, No. 21024, 2025 WL 309848 (Conn. Jan. 28, 2025) (“Germantown”) that the appraisal...more

Proskauer - Tax Talks

Summary of Tax Proposals in Leaked Document Detailing Policy Proposals

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On January 17, 2025, news sources reported that Republican members of Congress circulated a detailed list of legislative policy options, including tax proposals. This blog post summarizes some of the tax proposals and...more

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