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

Federal Estate and Gift Tax Changes in 2026: What is on the Horizon, or Sunset Rather?

Polsinelli on

In 2017, the federal gift and estate tax exemption was $5.49 million. The Tax Cuts and Jobs Act of 2017 doubled the gift and estate tax exemption amount to $11.18 million in 2018, and that amount has been adjusted for...more

Gray Reed

News Flash: Tax Fraud by Ex Causes One Woman Lingering Heartache

Gray Reed on

In recent headlines, an Ohio woman has brought a refund suit in district court, seeking recovery of taxes and withholding from the IRS that she claims were based on the improper return filed by her abusive ex-boyfriend. The...more

Ward and Smith, P.A.

Weathering the Storm: How to Get Your Affairs in Order

Ward and Smith, P.A. on

In the aftermath of Hurricane Florence in 2018, I wrote this article to help individuals and families navigate the legal and financial issues that often follow a devastating storm. I remember the incredible outpouring of...more

Dechert LLP

PE Firms Prepare to Navigate Market Uncertainty After U.S. Election

Dechert LLP on

31% of North American respondents believe that the Republican victory in November’s U.S. presidential election has the potential to boost portfolios, particularly for North American firms. Donald Trump’s victory in...more

Oberheiden P.C.

5 IRS Penalty Abatement Strategies

Oberheiden P.C. on

As a U.S. taxpayer, one of the last things that you want to hear is that the Internal Revenue Service (IRS) has disagreed with your tax assessment and has imposed penalties for noncompliance. The good news is that the IRS...more

Hogan Lovells

What will happen to IRA clean energy subsidies in the Trump Administration?

Hogan Lovells on

The Inflation Reduction Act of 2022 (IRA) was one of the most significant legislative victories of the Biden administration, fostering tens of billions (USD) in planned clean energy investments, much of this yet to be...more

BCLP

Autumn Budget 2024: Key Takeaways for the UK’s Energy Sector - Part One

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The UK's new Labour Government’s first Budget has revealed key measures, aiming to support the UK’s transition into cleaner energy. Whilst many changes are largely positive for the renewable sector, the Budget does highlight...more

Parker Poe Adams & Bernstein LLP

Key Takeaways From the 2024 Election: Georgia

While Georgia did not hold an election for governor or any other statewide offices, there were ballot measures and legislative races to consider. The status quo will remain in place with Republicans having control of the...more

Brownstein Hyatt Farber Schreck

Employee Benefits-Related Limits for 2025

This chart shows some of the annually adjusted dollar limits that impact employee benefits, as published by the Internal Revenue Service, the Social Security Administration and the Pension Benefit Guaranty Corporation....more

Jackson Lewis P.C.

IRS Interim Guidance Under Secure 2.0 On “Inadvertent Benefit Overpayments”

Jackson Lewis P.C. on

Among the provisions of SECURE 2.0 (effective December 29, 2022) welcomed by plan sponsors were the additions to the Internal Revenue Code that allow qualified plans to refrain from trying to recoup an “inadvertent benefit...more

Paul Hastings LLP

Treasury and IRS Release Final Regulations on Section 45X Advanced Manufacturing Production Credit

Paul Hastings LLP on

The Inflation Reduction Act of 2022 added the Section 45X Advanced Manufacturing Production Credit (Section 45X) to the Internal Revenue Code of 1986, as amended. Section 45X provides a credit against federal income tax for...more

Hogan Lovells

New York City property taxes & vacancy rates

Hogan Lovells on

After several years of nothing but bad news, we are finally beginning to hear of an uptick in office and retail leasing activity. That said, there are still too many buildings with high vacancy rates. These buildings continue...more

BakerHostetler

[Podcast] The Cloakroom with Peter Roskam: Featuring Jake Sherman of Punchbowl News

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Former Congressman Peter Roskam, who leads BakerHostetler’s Federal Policy team, provides listeners with a front-row seat to the most important policy and political debates in Congress. In this episode of “The Cloakroom with...more

Proskauer - Tax Talks

Taxing carried interest in the UK: the new regime announced in the Labour government’s Autumn Budget 2024

Proskauer - Tax Talks on

On Wednesday 30 October 2024, the UK government announced changes to the UK taxation of carried interest as part of the 2024 Autumn Budget. Changes were expected following statements made by the Labour Party in the run up to...more

Mayer Brown

Treasury and IRS Issue Final Regulations on Section 45X

Mayer Brown on

On October 24, 2024, the US Department of Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) released final regulations (the “Final Regulations”) on the Section 45X Advanced Manufacturing Production Credit of the...more

A&O Shearman

HM Treasury Proceeding with Introduction of Reserved Investor Funds

A&O Shearman on

In the U.K. government's Autumn Budget published on October 30, 2024 (paragraph 5.117), the government confirmed that it is proceeding with the introduction of the Reserved Investor Fund (Contractual Scheme)...more

A&O Shearman

UK Government Announces PISCES Stamp Taxes on Shares Exemption

A&O Shearman on

As part of the Autumn Budget delivered on October 30, 2024, the U.K. Government expressed it is committed to delivering the Private Intermittent Securities and Capital Exchange System (PISCES), a new innovative market for...more

McGuireWoods LLP

IRS Announces Cost of Living Adjustments for the 2025 Plan Year

McGuireWoods LLP on

The Internal Revenue Service has announced in its annual update various 2025 employee benefit plan limits and thresholds for employer plan sponsors to begin incorporating into their ongoing benefits administration and...more

ArentFox Schiff

Investigations Newsletter: Judge Orders Government to Pay Relators a Cut of FCA Settlement

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Judge Orders Government to Pay Relators a Cut of FCA Settlement - On November 4, a federal judge from the US District Court for the District of Massachusetts ordered the government to pay the relators’ share of a...more

Bracewell LLP

PRG Pulse 2024 Post-Election Analysis: Energy Tax Policy

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The future of the Inflation Reduction Act (IRA), signed in 2022 to boost US clean energy with new tax incentives, hangs in the balance. President-elect Trump and some Republicans in Congress have threatened to repeal all or...more

Kilpatrick

5 Key Takeaways - State Sales Tax in 2024: What Every Retailer Needs to Know

Kilpatrick on

Kilpatrick’s David Hughes and Kylan Memminger recently led a session at the firm's Retail & Consumer Goods Summit. The presentation, “State Sales Tax in 2024: What Every Retailer Needs to Know,” highlighted current sales tax...more

Miller Canfield

Getting an Erroneous Tax Refund Case to a Jury is a Fraught Task in the Fifth Circuit

Miller Canfield on

In Grigsby v. United States, the Justice Department used discovery procedures in federal district court essentially to audit a taxpayer’s federal income tax credits for research activities. The court found that the taxpayer...more

Bracewell LLP

PRG 2024 Post-Election Pulse Check: Hydrogen

Bracewell LLP on

E. Dee Martin, partner and co-head of Bracewell’s Policy Resolution Group, and Rebecca Brown, a PRG principal, discuss the future of the hydrogen industry during the second Trump administration....more

Ballard Spahr LLP

IRS Guidance Expands List of Preventive Care Benefits Under HDHPs

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The IRS recently issued Notices 2024-71 and 2024-75, which expand the list of “preventive care” benefits permitted to be provided by a high deductible health plan (HDHP) without a deductible and the list of benefits...more

Mintz - ML Strategies

2024 Post-Election Analysis

Mintz - ML Strategies on

Following a hotly contested election, Donald Trump is once again the president-elect and will return to the White House on January 20, 2025. He will do so with a dominant electoral college win, potentially a win of the...more

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