News & Analysis as of April 29, 2025

Alternative Minimum Tax › Tax Cuts and Jobs Act

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The Alternative Minimum Tax is an aspect of the United States federal tax code that seeks to capture a minimum level of revenue from all taxpayers and to ensure that some earners are not escaping tax liability through certain tax breaks or deductions. Liability under the AMT is calculated by adding certain deductions back into an individual's adjusted gross income, subtracting the AMT exemption and then, paying a percentage of the remaining figure. less -

Countdown to Tax Changes: Navigating Budget Reconciliation 2025

Lippes Mathias LLP on 3/19/2025

As the clock ticks down to the end of 2025, the impending sunset of key provisions of the Tax Cuts and Jobs Act (“TCJA”) looms large, threatening tax hikes for millions of Americans. With Congress at a crossroads, the...more

How Often to Review Your Trust and Estate Plan

Allen Barron, Inc. on 2/26/2025

How often should you review your trust and estate plan? Is there a regular cycle to these reviews, or should they be driven by significant events in your life or the lives of your beneficiaries and executor or trustee? How...more

Passing a Business or Wealth to Your Children

Allen Barron, Inc. on 1/30/2025

A well-structured trust is often a central estate planning tool for small businesses and closely held family business owners when passing a business or wealth to your children. This includes heirs, beneficiaries, and future...more

State Taxes: What to Expect in 2025

Seward & Kissel LLP on 1/20/2025

A changing tax landscape is on the horizon for the new year. Many of the provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”) are scheduled to expire at the end of the year. President-elect Trump has also proposed a variety...more

CAMT Claus Is Staying In Town?

Vinson & Elkins LLP on 12/19/2024

Lawmakers have been making their lists and checking them twice, and soon we will find out who’s been naughty or nice. However, taxpayers and their advisors wishing for a repeal of the corporate alternative minimum tax in 2025...more

Integrative Legal, Tax, Accounting, and Business Advisory Services More Important Than Ever

Allen Barron, Inc. on 11/15/2024

Integrative legal, tax, accounting, and business advisory services are more critical than ever as we address the challenging environment of continuous change. Seek change; wherever you find it, opportunity will exist....more

Update your Trust and Estate Plan Regularly to Protect Your Interests

Allen Barron, Inc. on 9/27/2024

It is important to update your trust and estate plan regularly to protect your interests and meet the changing requirements of your future while integrating changes in law and best practices to provide for every potential...more

Key Tax Provisions of the Inflation Reduction Act of 2022

Harris Beach Murtha PLLC on 8/19/2022

On August 16, 2022, President Joe Biden signed the Inflation Reduction Act of 2022 (the “Act”) into law. Among its provisions, the Act provides the biggest investment ever in the US to fight climate change, places a cap on...more

Signed, sealed, delivered: Biden signs Inflation Reduction Act enacting “new” corporate minimum tax

Eversheds Sutherland (US) LLP on 8/18/2022

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (the IRA) into law. Among the most notable IRA provisions is a 15% corporate alternative minimum tax on corporations with book profits...more

Does a Qualified Charitable Distribution Make Sense This Year?

Adler Pollock & Sheehan P.C. on 12/7/2020

A unique provision in the tax code allows certain transfers, made directly from a traditional IRA to a qualified charitable organization, to avoid taxation. Although this benefit of a qualified charitable distribution (QCD)...more

Tax Relief to Help Weather the Storm of COVID-19

Jaburg Wilk on 4/29/2020

As the COVID-19 pandemic has wreaked havoc on our personal, financial and business lives, the government has responded with legislative and administrative relief. This is a high-level summary of some of the enacted measures...more

An Electing Real Property Trade or Business can Revoke its Election on Account of the Change to Qualified Improvement Property...

Seyfarth Shaw LLP on 4/14/2020

On April 10, 2020, the Internal Revenue Service (the “IRS”) issued Revenue Procedure 2020-22 (the “Revenue Procedure”), which (1) permits an “electing real property trade or business” that elected not to be subject to the...more

Tax Relief Provisions in the CARES Act Stimulus Package

A&O Shearman on 3/27/2020

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) is expected to be enacted, as early as March 27, 2020. The CARES Act contains tax provisions intended to provide individuals and companies with liquidity as...more

Year-End Tax Planning: More Important This Year Than Ever

Rosenberg Martin Greenberg LLP on 1/3/2019

It’s the holiday season! The last few weeks were spent in winter festivities, getting together with friends and family, and rushing around to the sound of holiday music. Major Tax Changes Stem from the Tax Cut and Jobs Act...more

Practical Insights on Tax Reform: Impact on Individuals

Nutter McClennen & Fish LLP on 4/20/2018

On December 22, 2017, President Trump signed into law legislation, known as the Tax Cuts and Jobs Act (“TCJA”), which is the most extensive overhaul of the United States of the Internal Revenue Code (the “Code”) in 30 years....more

Decoding the Tax Cuts and Jobs Act – Part IX: Impact on M&A Transactions

Foster Garvey PC on 4/9/2018

The Tax Cuts and Jobs Act (“TCJA”) will significantly impact merger and acquisition (“M&A”) activity. Although billed as tax reform, the TCJA did not reform or simplify the Internal Revenue Code (“Code”). Virtually none of...more

Practical Insights on Tax Reform: Impact on Exempt Organizations

Nutter McClennen & Fish LLP on 4/2/2018

On December 22, 2017, President Trump signed into law legislation, known as the Tax Cuts and Jobs Act (“TCJA”), which is the most extensive overhaul of the United States Internal Revenue Code (the “Code”) in 30 years. In...more

Are the New Refundable AMT Credit Carryovers Subject to the Limitation of Section 383? - Tax Update, Volume 2018, Issue 1

Troutman Pepper Locke on 3/19/2018

The recently passed Tax Cuts and Jobs Act eliminated the corporate alternative minimum tax (AMT). Before its repeal, a corporate taxpayer that was subject to the AMT was entitled to indefinitely carry forward the AMT taxes...more

Decoding the Tax Cuts and Jobs Act – Part VII: Family Matters and Major Events in the Lives of Individuals

Foster Garvey PC on 3/9/2018

The Tax Cuts and Jobs Act (“TCJA”) creates the need for tax planning with respect to several major life-changing activities individuals may encounter, including marriage, divorce, home ownership, casualty losses, medical...more

U.S. Tax Reform Has A Profound Impact On Inbound Investment

Orrick, Herrington & Sutcliffe LLP on 3/7/2018

The current focus of the international tax community is on the United States, and for good reason. In the midst of a contentious political landscape, months of anticipation, and a decidedly clandestine drafting process, U.S....more

Important Information about the 2017 Tax Cuts & Jobs Act: Business Tax Provisions

Tucker Arensberg, P.C. on 3/1/2018

Substantial changes and new concepts were worked into the Act for business income, both of corporations and individuals. Corporate Tax Rate Reduced: The maximum corporate tax rate is 21%, down from 35%. ...more

U.S. Tax Reform – What It Means For The Gaming And Hospitality Industry

Dickinson Wright on 2/26/2018

Against all odds, Congress, on a straight party-line vote, enacted the most significant tax reform the U.S. has witnessed in more than 30 years. The tax reform legislation, known as the “Tax Cuts and Jobs Act,” significantly...more

Gaming & Hospitality Legal News: Volume 11, Number 2 - The More Things Change, The More They … Change: Recent Developments In...

Dickinson Wright on 2/21/2018

Executive Summary and Takeaway: Trade secrets and confidential information are receiving increasing protection in many states, and as more states perceive this as a "business friendly" issue, this trend will continue and...more

Mixed Messages on PABs: Fit for the Chopping Block or Cornerstone of Infrastructure Finance?

Bracewell LLP on 2/20/2018

Only a few months ago, the public finance industry was shaken when the U.S. House of Representatives proposed to eliminate tax-exempt private activity bonds (“PABs”), despite previous assurances that tax reform would not...more

Private Activity Bonds Under President Trump's "Legislative Outline for Rebuilding Infrastructure in America"

Ballard Spahr LLP on 2/19/2018

The White House released a 53-page framework on Tuesday setting forth its legislative goals for rebuilding America's infrastructure (the Infrastructure Plan)....more

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Alternative Minimum Tax › Tax Cuts and Jobs Act

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