Proskauer - Tax Talks

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Firm Profile: Proskauer Rose LLP
Eleven Times Square
(Eighth Avenue & 41st Street)
New York, NY 10036-8299, United States
Phone: 212.969.3000
Fax: 212.969.2900
Areas of Practice
  • Taxation
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  • D.C.
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  • New York
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Impact of Recent Tax Legislation on M&A Transactions

This post outlines at a high-level certain provisions under the recently enacted 2017 tax legislation (Pub. L. 115-97, the “Tax Act”) that may affect M&A Transactions. Some of these rules are very complex, particularly in…more
 /  Commercial Law & Contracts, Finance & Banking, International Law & Trade, Mergers & Acquisitions, Taxation

New Tax Law (H.R. 1): Key Highlights Related to Interest Bearing Debt

On Friday December 22, 2017, the President signed into law H.R.1, commonly referred to as the Tax Cuts and Jobs Act (TCJA). This is the most sweeping change to the US federal income tax laws in over three decades, and it will…more
 /  Business Organizations, Commercial Law & Contracts, Finance & Banking, International Law & Trade, Taxation

The Effects of the Tax Cuts and Jobs Act on Real Estate

On Friday December 22, 2017, President Trump signed into law H.R.1, commonly referred to as the Tax Cuts and Jobs Act (TCJA). This is the most sweeping change to the U.S. federal income tax laws in over three decades, and it…more
 /  Business Organizations, Commercial Law & Contracts, Finance & Banking, Real Estate - Residential, Taxation

Tax Reform’s Effect on the Sports Industry

On Friday, December 22, 2017, President Trump signed into law H.R. 1, the $1.5 trillion tax reform law known as the Tax Cuts and Jobs Act (the “Tax Reform Act”). This alert describes provisions of the Tax Reform Act that we…more
 /  Art, Entertainment, & Sports Law, Commercial Law & Contracts, Education, Taxation

IRS Issues Taxpayer Advisory on Prepayment of 2018 Property Taxes

The IRS announced yesterday, in IR 2017-210 (the “Advisory”), that state property taxes must be “assessed” in 2017 in order for such taxes to be prepaid in calendar year 2017 and therefore deductible in 2017. The Advisory says…more
 /  Real Estate - Residential, Taxation, Wills, Trusts, & Estate Planning

IRS Issues Limited Section 409A Relief to Pay Income Taxes on Pre-2009 Section 457A Deferrals

The Internal Revenue Service (the “IRS”) has issued Notice 2017-75 (the “Notice”), which provides certain limited relief from the strict requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”),…more
 /  Business Organizations, Commercial Law & Contracts, Finance & Banking, International Law & Trade, Taxation

House of Representatives and Senate Conferees Reach Agreement on the Tax Cuts and Jobs Act (H.R. 1): Description of the Conference Agreement and Differences from House and Senate Versions

On Friday, December 15, the U.S. House of Representative and Senate conferees reached agreement on the Tax Cuts and Jobs Act (H.R. 1) (the “Final Bill”), and released legislative text, an explanation, and the Joint Committee on…more
 /  Commercial Law & Contracts, Elections & Politics, Finance & Banking, Labor & Employment Law, Taxation

To Accelerate or Not? Potential Tax Planning in Light of Proposed Reforms to Code Section 162(m)

Under both the House and Senate versions of the Tax Cuts and Jobs Act, Internal Revenue Code Section 162(m) would be modified to expand the scope of companies and executive officers subject to the limitation on deductibility of…more
 /  Business Organizations, Elections & Politics, Taxation

U.S. Senate Passes Its Version of the Tax Cuts and Jobs Act (H.R. 1); Descriptions of the Bills Passed in the House and Senate and Outstanding Differences to be Resolved in Conference

In the early hours of Saturday morning, the U.S. Senate passed the Tax Cuts and Jobs Act (H.R. 1) (the “Senate bill”), just over two weeks after the U.S. House of Representatives passed its own version of the same legislation…more
 /  Commercial Law & Contracts, Elections & Politics, Labor & Employment Law, Finance & Banking, Taxation

Income, from Whatever Exchange, Mine, or Fork Derived: The Basics of U.S. Cryptocurrency Taxation

In this first of (we hope) many posts on the interesting and myriad tax issues arising in the world of cryptocurrency and blockchain technology, we focus on the very basic U.S. federal income tax consequences of cryptocurrency…more
 /  Finance & Banking, International Law & Trade, Science, Computers, & Technology, Securities Law, Taxation

An Update on the Status of U.S. Tax Reform

The United States Congress has returned to Washington D.C. from the Thanksgiving holiday, and with their return, attention will return to U.S. tax reform legislation. It remains the publicly-stated goal of the Republican…more
 /  Elections & Politics, Taxation

Comparison of the Executive Compensation Provisions in the Tax Cuts and Jobs Act

On November 20, 2017, the Senate Finance Committee released legislative text of its version of the Tax Cuts and Jobs Act, which contains proposals modifying certain executive compensation provisions of the Internal Revenue Code…more
 /  Business Organizations, Elections & Politics, Finance & Banking, Labor & Employment Law, Taxation

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

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 are…more
 /  Business Organizations, International Law & Trade, Real Estate - Commercial, Taxation

House of Representatives Passes the Tax Cuts and Jobs Act (H.R. 1); Senate Finance Committee Approves Modified Version; Comparison of the Bill Passed by the House and the Modified Senate Bill

Yesterday afternoon, the House of Representatives passed the Tax Cuts and Jobs Act (H.R. 1) (the “House bill”). The House bill is identical to the draft bill approved by the House Ways and Means Committee on November 10. Late…more
 /  Business Organizations, Finance & Banking, International Law & Trade, Taxation, Nonprofit Law

The Senate Finance Committee’s proposal for tax reform, and how it compares with the bill passed by the House Committee on Ways & Means

UPDATE: The Senate Finance Committee last night released a revised version of the Chairman’s Mark of the Tax Cuts and Jobs Act. We are reviewing these changes and will release an update soon... On Thursday, November 9, the…more
 /  Business Organizations, Elections & Politics, Finance & Banking, International Law & Trade, Taxation
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