Corporate Taxes, IRS, Fringe Benefits

IRS issues guidance for determining nondeductible amount of parking fringe expenses and unrelated business taxable income;...

BCLP on 12/12/2018

WASHINGTON – The Internal Revenue Service today issued interim guidance regarding the treatment of qualified transportation fringe benefit expenses paid or incurred after Dec. 31, 2017. The new rules assist taxpayers in...more

New IRS Guidance Regarding Section 162(m)’s Deduction Limitation for Executive Compensation – Increased Complexity and Reduced...

Cadwalader, Wickersham & Taft LLP on 9/18/2018

The Internal Revenue Service (the “IRS”) recently issued Notice 2018-68 (the “Notice”) that provides guidance regarding the application of Section 162(m) of the Internal Revenue Code of 1986, as amended (“Section 162(m)”)...more

IRS Confirms Deduction Denial for Qualified Transportation Benefits

Kilpatrick on 3/22/2018

Under the Tax Cuts and Jobs Act (the “Act”) employers are no longer allowed to take a deduction for qualified transportation fringe benefits provided to employees (other than qualified bicycle commuting reimbursements which...more

Trump’s Tax Reform: Effect on Nonprofits

Bowditch & Dewey on 3/6/2018

The Administration’s frenzy to pass “tax reform” created tax breaks for some—I’m looking at you, the Trump family—increased taxes for others, and confusion for everyone, at least until the IRS is able to promulgate official...more

President Trump Signs Tax Reform Bill into Law

Akin Gump Strauss Hauer & Feld LLP on 1/9/2018

On December 15, 2017, the House and Senate conference committee agreed on the terms of the final tax reform bill, previously referred to as the “Tax Cuts and Jobs Act” (the “Act”), which was subsequently approved by both...more

New Deferral Opportunity for Stock Awards

Bradley Arant Boult Cummings LLP on 1/5/2018

The Tax Cuts and Jobs Act includes a new provision that can delay the taxation of compensation paid to employees of “eligible corporations” in the form of “qualified stock” for up to five years. The provision is set forth in...more

Five Things to Know about the Tax Cuts and Jobs Act

Pillsbury Winthrop Shaw Pittman LLP on 12/8/2017

Even with the bill still in Conference, here are some things businesses should follow closely. Both House and Senate Bills call for deemed repatriation of accumulated foreign profits at reduced tax rates. ...more

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