News & Analysis as of

Excise Tax

Bergeson & Campbell, P.C.

IRS Cancels June Hearing on Petition to Add Methyl Methacrylate-Ethyl Methacrylate-Methacrylic Acid Copolymer in a Styrene...

As reported in our May 22, 2026, blog item, the Internal Revenue Service (IRS) announced on May 18, 2026, that it will hold a hearing on June 18, 2026, on the notice of filing to add methyl methacrylate-ethyl...more

Ropes & Gray LLP

IRS Announces Intent to Issue Regulations on Expanded Executive Compensation Excise Tax for Tax-Exempt Organizations

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On June 5, 2026, the Internal Revenue Service released Notice 2026-36 announcing its intent to issue proposed regulations under Section 4960 of the Internal Revenue Code addressing the significant expansion under the One Big...more

Kohrman Jackson & Krantz LLP

Private Foundation Excise Taxes and the Unique Problems Facing Entrepreneurs

Charitable giving has become an important goal of many entrepreneurs who have accumulated substantial wealth in closely held businesses. Among the many philanthropic vehicles available, the private foundation stands apart for...more

Bergeson & Campbell, P.C.

IRS Will Hold June Hearing on Petition to Add Methyl Methacrylate-Ethyl Methacrylate-Methacrylic Acid Copolymer in a Styrene...

The Internal Revenue Service (IRS) announced on May 18, 2026, that it will hold a hearing on June 18, 2026, on the notice of filing to add methyl methacrylate-ethyl methacrylate-methacrylic acid copolymer in a styrene...more

Eversheds Sutherland (US) LLP

Tax Bytes: Week of May 11, 2026

Welcome to the latest edition of Tax Bytes. Our team of tax lawyers is actively monitoring for federal and international tax developments and issues of note. We pull together the items we deem most important to provide...more

Foley Hoag LLP - Cannabis and the Law

Stalemate over Virginia Adult-Use Cannabis Bill – Governor Faces May 22, 2026 Deadline

The Virginia legislature and Governor Abigail Spanberger remain at a stalemate over a bill that would make the Commonwealth the latest state to approve an adult-use cannabis market....more

Eversheds Sutherland (US) LLP

Section 6435 temporary regulations should prompt parties who remove previously taxed dyed diesel fuel or kerosene to re-examine...

On April 30, 2026, the Treasury and IRS released temporary regulations (T.D. 10047) and identical proposed regulations (REG-119294-25) under section 6435 of the Code, which was added by the One Big Beautiful Bill Act (OBBBA)....more

FBT Gibbons LLP

Care to Predict What Happens? Kentucky’s New Prediction Markets Tax

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In the recently concluded 2026 Regular Session of Kentucky’s General Assembly, there was significant activity concerning prediction markets like Kalshi and Polymarket, all with potential serious economic impact....more

Dentons

2026 Legislative Session Adjourns Sine Die

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The Iowa legislature adjourned sine die on May 3, 2026, after marathon caucuses and floor debate through the night on Saturday, May 2, and most of the day on Sunday, May 3. Slated for 100 days, the legislature extended 12...more

Warner Norcross + Judd

Family Foundations vs. Donor-Advised Funds: Choosing the Right Vehicle for Your Philanthropic Legacy

For high-net-worth families, charitable giving is often more than a financial decision — it is a reflection of deeply held values and a cornerstone of family legacy. Two of the most popular vehicles for structured...more

Stikeman Elliott LLP

Tax Court of Canada Confirms GST/HST is Payable on Purchase of Vacant Commercial Space Despite Purchaser’s Intention to Convert it...

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In an informal procedure decision rendered on March 24, 2026, Justice Rabinovitch of the Tax Court of Canada (“Tax Court”) dismissed in part the appeal in Moseley v. The King, 2026 TCC 59, ruling that the appellant taxpayer...more

Davis Wright Tremaine LLP

WA's Income Tax Creep—Will the Millionaires' Tax Survive Scrutiny?

Washington State recently enacted an income tax, effective January 1, 2028, on earners with income in excess of $1 million, which has left critics speculating that this tax will rapidly expand to other taxpayers in future...more

Lowenstein Sandler LLP

FinTech Five - Lowenstein's FinTech, Crypto, Trading & Markets Newsletter - April 14, 2026

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On April 10, at the request of the Commodity Futures Trading Commission (CFTC) and the Department of Justice, the U.S. District Court for the District of Arizona granted a temporary restraining order (TRO) through April 24...more

Pillsbury Winthrop Shaw Pittman LLP

Un-Banked Tax 101: The IRS Proposes Regulations Implementing the 1% Remittance Excise Tax

President Trump has famously said that “‘tariffs’ is the most beautiful word to me in the dictionary.” As financial service firms know, the Administration’s tariff policy has not been limited to non-U.S. goods and services....more

Loeb & Loeb LLP

The Sports Law Playbook: Gifting Issues for Athletes

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Welcome to the March 2026 edition of The Sports Law Playbook. In this issue, we explore key tax considerations and gift planning strategies for athletes looking to give back to the people and communities that have supported...more

Chambliss, Bahner & Stophel, P.C.

Charitable Remainder Trusts: Structural Nuances and Planning Considerations

Charitable remainder trusts (CRTs) remain a key strategy in philanthropic and tax planning, particularly for clients facing significant liquidity events or seeking to diversify highly appreciated, low-yielding assets. When...more

Groom Law Group, Chartered

IRC Section 4960: Did the IRS Get It Wrong in 2017?

Last month, the IRS released GLAM 2026-001 clarifying that applicable tax-exempt organizations (“ATEOs”) cannot escape the IRC Section 4960 excise tax on excess executive compensation simply because a covered health insurance...more

Fisher Phillips

Do Your Executive Compensation Arrangements Expose Your Tax-Exempt Organization to Possible IRS Sanctions?

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You have finally reached agreement on your new Executive Director’s contract. After much internal deliberation, the Compensation Committee ultimately approves a compensation package that significantly exceeds the...more

Foley & Lardner LLP

Using Loan Regime Split-Dollar Life Insurance to Navigate Nonprofit Executive Compensation Rules

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Share on LinkedIn Share on Twitter Print Share by Email Share Back to top A loan regime split-dollar life insurance arrangement can be an important option to provide retirement benefits to nonprofit executives while...more

DarrowEverett LLP

Understanding Excess Parachute Payments: A Guide to Section 280G for Executives and Selling Shareholders

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When a company is sold, senior executives and key personnel often stand to receive significant payments, such as transaction bonuses, accelerated equity vesting, severance, and earnout participation....more

Clark Hill PLC

The Learned Concierge - March 2026, Vol. 28

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Welcome to your monthly legal insights on the trends impacting the Retail, Hospitality, and Food & Beverage Industries....more

Bennett Jones LLP

Mixed-Use, Mixed Signals: Why Purchase Price Allocations Matter

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As the saying goes, there are only two certainties in life—death and taxes. Unless, as in the case of Miculinic Investment Corp. v. 2303515 Ontario Inc., et al., you're dealing with the amount of tax owing on a purchase of...more

Davis Wright Tremaine LLP

IRS Announces Relief Notice for Washington State Flood Victims

The Internal Revenue Service has announced broad federal tax relief for individuals and businesses affected by the severe storms, flooding, landslides, and mudslides that began on December 9, 2025, in Washington State....more

Rivkin Radler LLP

Sales Tax Savings With Montana LLCs? Don’t Do It

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What do you think of when someone mentions Montana? Is it the seemingly boundless landscape from which the largest land-locked state derived its nickname, Big Sky Country? What about its Rocky Mountain national parks, like...more

Vedder

Treasury Department and IRS Issue Final Regulations Exempting Non-RIC Funds from Stock Repurchase Excise Tax

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As discussed in an article published by attorneys in Vedder’s Tax group, the Inflation Reduction Act of 2022 imposed a 1 percent excise tax on certain repurchases of publicly traded corporate stock made after December 31,...more

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