News & Analysis as of

Business Taxes

LATIN AMERICA & THE CARIBBEAN: A Legal Guide for Business Investment and Expansion - Jamaica

1 .What role does the government of Jamaica play in approving and regulating foreign direct investment? The government of Jamaica (GOJ) is highly committed to facilitating a viable environment for businesses and...more

Tax Court Disallows Rental Loss Deduction To Taxpayer Who Failed To Qualify As A Real Estate Professional

by Moskowitz LLP on

In our last post, we explained how an architect proved to the Tax Court that he qualified as a real estate professional, and was subsequently permitted to deduct passive activity losses from his real estate activities. Here,...more

The Qualified Business Income Deduction (Section 199A): Interim Guidance

The Tax Cuts and Jobs Act (the “TCJA”) was signed into law by President Trump on December 22, 2017. The law generally goes into effect for taxable years beginning after December 31, 2017. One of the overriding purposes of the...more

Private Foundations May Now Own Philanthropic Businesses

by Morgan Lewis on

Private foundations may now own philanthropic businesses whose profits are dedicated to charity without the prohibitive excess business holdings tax. Newman’s Own Foundation was the proponent of recent legislation that allows...more

IRS Computer Problems Give Taxpayers Extra Day to File 2017 Tax Returns and to Pay Taxes

by McNair Law Firm, P.A. on

The IRS announced on April 17, 2018 that, due to IRS computer problems, all taxpayers are being given an extra day to file their 2017 tax returns and to pay any taxes owed (see IR-2018-100, April 17, 2018). The IRS apparently...more

Tax Court Allows Rental Loss Deduction to Architect Who Qualified as Real Estate Professional

by Moskowitz LLP on

Investors are limited in their ability to offset income with passive losses, and even real estate investors who “actively participate” in their rentals (through management, capital improvements, selection of tenants,...more

Notice 2018-28 Regarding Limitations on Interest Deductions under Amended Section 163(j)

by McDermott Will & Emery on

Section 163(j), as recently amended, may limit a taxpayer’s interest expense deduction. Notice 2018-28, in very general terms, provides interim guidance on the application of Section 163(j). Importantly, the Notice...more

Bulletin 11 in action

by Hogan Lovells on

In February of this year, we reported a new tax development in China (Bulletin 11) affecting Sino-foreign cooperative education institutions and programs. Bulletin 11 came into effect on 1 April 2018, amongst ambiguity about...more

LATIN AMERICA & THE CARIBBEAN: A Legal Guide for Business Investment and Expansion - Honduras

1 .What role does the government of Honduras play in approving and regulating foreign direct investment? The Honduran government has acknowledged that foreign direct investment is vital for the generation of economic...more

Report on Executive Budget

by Hodgson Russ LLP on

On March 30th, Governor Cuomo announced that New York lawmakers passed the $168.3 billion FY 2019 Budget (the “Final Bill”). ...more

IRS Guidance Issued on New Interest Stripping Rules

by Charles (Chuck) Rubin on

The Tax Cuts and Jobs Act substantially modified the interest stripping rules of Code §163(j). In a recent IRS notice, the IRS provided guidance on some of the provisions of the revised limitation and what new regulations...more

The 2018 IRS Dirty Dozen,Part II: Padding Deductions, Claiming Undeserved Business Credits, Falsifying Income, Inflating Refunds

by Moskowitz LLP on

In our last post, we covered four schemes aimed at taking advantage of well-meaning taxpayers. The next four items on the IRS Dirty Dozen for this year involve illegal actions taken by taxpayers to either reduce their taxable...more

LATIN AMERICA & THE CARIBBEAN: A Legal Guide for Business Investment and Expansion - Guatemala

1. What role does the government of Guatemala play in approving and regulating foreign direct investment? Guatemala’s government issued a law that regulates foreign investment. Such law establishes the terms and policies...more

IRS Issues Guidance on the Business Interest Expense Limitation

by Clark Hill PLC on

On April 2, the Treasury and the IRS issued Notice 2018-28 which provides guidance concerning the business interest expense limitation enacted as part of tax reform. The guidance includes the application of the rules to...more

Congress Fixes “Grain Glitch” Error in 199A

by Butler Snow LLP on

On March 23, the Consolidated Appropriations Act (the “Appropriations Act”) was signed into law by President Trump. Included in the Appropriations Act were certain tax law provisions, including technical corrections to the...more

LATIN AMERICA & THE CARIBBEAN: A Legal Guide for Business Investment and Expansion - Ecuador

1 .What role does the government of Ecuador play in approving and regulating foreign direct investment? The Ecuadorian state guarantees and promotes foreign investments. Foreign investors have the same rights and...more

Decoding the Tax Cuts and Jobs Act – Part VIII: Charitable and Tax-Exempt Organizations / Estate and Gift Taxes

by Garvey Schubert Barer on

Charitable organizations work hard to maintain exempt status. These organizations operate in a highly regulated landscape: In exchange for enjoying freedom from income taxes, they must comply with strict organizational and...more

Rethinking Business Entities Under The New Tax Act

by Fox Rothschild LLP on

The Tax Cuts and Jobs Act of 2017 changes the income tax planning for all businesses, including for small business owners. It is now more important than ever for business owners to consult with their tax advisors before...more

The Tax Laws Changed. Should Your Business and Estate Plans Change Too?

by Thompson Coburn LLP on

On January 1, 2018, the most significant changes to the U.S. tax code in 30 years took effect. While the permanency of these changes varies, they are all currently scheduled to continue until at least 2026, which is long...more

How Will Recent Tax Legislation Affect the Renewable Energy Sector?

by Pepper Hamilton LLP on

The Bipartisan Budget Act of 2018 (Pub. L. No. 115-123) (the Budget Act) was signed into law on February 9. The legislation took effect roughly seven weeks after President Trump signed into law an Act to Provide for...more

Section 163(j) Interest Expense Limitation

by McDermott Will & Emery on

The newly enacted version of section 163(j) limits deductions for business interest expense. Although the prior version of section 163(j) applied almost exclusively to US corporations with non-US parents, the new version of...more

NJ Tax Court: Foreign-Source Income Not Taxable

by Reed Smith on

In a decision released today, the Tax Court of New Jersey ruled that a foreign corporation was not subject to New Jersey corporation business tax (“CBT”) on its income from sources outside the United States....more

LATIN AMERICA & THE CARIBBEAN: A Legal Guide for Business Investment and Expansion - Costa Rica

1 .What role does the government of Costa Rica play in approving and regulating foreign direct investment? Costa Rica has long been recognized as a regional leader of social and economic development in Latin America. The...more

Tax Cuts and Jobs Act Retains Most Real Estate Incentives

by Varnum LLP on

Early drafts of President Trump's tax plans threatened to eliminate or substantially reduce key federal incentive programs that promote real estate development. ...more

IRS Aims to Reduce Confusion over Employer Identification Number Applications

by Harris Beach PLLC on

In December, 2017 the Internal Revenue Service (IRS) released a revised Form SS-4, Application for Employer Identification Number and related instructions. An employer identification number (EIN) is a nine-digit number...more

656 Results
|
View per page
Page: of 27
Cybersecurity

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.