Income Taxes, Tax Cuts and Jobs Act, New Legislation

Taxation & Representation, May 24, 2022

Brownstein Hyatt Farber Schreck on 5/26/2022

Tax Staffers Discuss State of Tax Policy. At a tax conference last week, top officials from the Biden administration and key congressional staffers discussed the latest in tax policy. One panel, which was focused on the...more

IRS Announces Delay of Certain Periods for 1031 Transactions

Perkins Coie on 4/17/2020

In response to the ongoing coronavirus pandemic (COVID-19), the Internal Revenue Service (the IRS) has taken additional actions intended to provide immediate relief to taxpayers. Delay of Identification and Acquisition...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

California Enacts its Version of Limitation on Business Losses for Non-Corporate Taxpayers

Coblentz Patch Duffy & Bass on 7/25/2019

As many in California already know, the State does not conform automatically to new Federal tax legislation, including the Tax Cuts and Jobs Act enacted on December 22, 2017 (“TCJA”). Instead, any conforming changes must be...more

Alabama Legislature Passes Landmark Financial Institution Excise Tax Reform Bill and Forms Corporate Tax Reform Study Group - SALT...

Bradley Arant Boult Cummings LLP on 5/31/2019

On Tuesday night, May 28, Gov. Kay Ivey signed into law House Bill 419, the Alabama Financial Institution Excise Tax Reform Act of 2019 (FIETRA), which resulted from a collaborative effort between the banking community,...more

Charitable Giving Options Under the New Tax Law

Chambliss, Bahner & Stophel, P.C. on 1/31/2019

The new tax law makes it harder to claim a tax deduction for charitable contributions. While charitable giving should not be only about getting a tax break, if you want to reap a tax benefit from your contributions, there are...more

Divorce and the New Tax Law

Mitchell, Williams, Selig, Gates & Woodyard,... on 11/7/2018

A change in the tax law will eliminate a tax break for alimony payments made pursuant to divorces that are finalized after December 31, 2018. For 2018, alimony (or spousal support or spousal maintenance) is tax deductible...more

IRS Issues Guidance on Section 162(m) Changes

Troutman Pepper on 8/29/2018

On August 21, the IRS issued Notice 2018-68 to provide guidance on changes to Internal Revenue Code Section 162(m), enacted by the Tax Cuts and Jobs Act of 2017 (TCJA). Section 162(m) generally limits the tax deduction...more

Future Connecticut Estate Tax Still Unclear after Two New Public Acts

Pullman & Comley, LLC on 8/24/2018

Following the passage of the Federal Tax Cuts and Jobs Act in late 2017, the Connecticut legislature attempted to modify Connecticut estate tax law and make it more consistent with the new, much higher $11.2 million federal...more

How Charities are Motivating Donors Under the New Tax Law

Stinson LLP on 6/26/2018

For charities, the Tax Cuts and Jobs Act enacted in December 2017 has sparked soul searching and creative solutions as concerns grow about giving challenges. ...more

Connecticut Reacts to Federal Tax Law Reform Changes

Verrill on 6/12/2018

The sweeping changes created by the federal Tax Cuts and Jobs Act (“TCJA”) has resulted in some states enacting their own legislation in response to the federal tax reform. On May 31, 2018, Connecticut signed into law a bill...more

Are Connecticut Income Taxes Now Tax Deductible For The Owners Of Pass-Through Entities?

Pullman & Comley, LLC on 6/6/2018

June 5, 2018 The Tax Cuts and Jobs Act, which was passed by Congress last year, imposed a $10,000 limit on state and local tax (“SALT”) deductions. ...more

Make your connection with the “Top 10” Tax Cut and Jobs Act Changes and be prepared for 2019!

Foodman CPAs & Advisors on 5/18/2018

Here are the changes from the Tax Cut and Jobs Act (TCJA) that will impact “most” Individuals when they prepare their 2018 Tax Returns in 2019...more

Focus on New Tax Law: Section 199A Pass-Through Deduction and Restrictions on Interest Deductions Tax Update, Volume 2018, Issue 2

Troutman Pepper on 5/11/2018

The Tax Cuts and Jobs Act (2017 Tax Act) significantly modified the treatment of certain deductions for many business taxpayers, including partners and partnerships....more

IRS Withholding Tax Guidance Helpful, But Not Perfect

Troutman Pepper on 4/27/2018

As we previously reported, following the tax reform package passed in December, private equity limited partner investors based outside the United States are now subject to tax on gains from the sale of partnership interests. ...more

New Tax Law Eliminates 30-Day Safe Harbor Against CFC Status

Carlton Fields on 4/10/2018

The recent tax law changes have focused primarily on corporate income tax, and in the international context, mostly on outbound tax matters. However, certain less publicized changes to the Code’s controlled foreign...more

Tax Reform Act Changes to CFC Attribution Rules

Kramer Levin Naftalis & Frankel LLP on 3/29/2018

The recently enacted tax reform act (the Act) significantly altered the U.S. taxation of foreign income. Perhaps most prominently, the Act allows U.S. corporations to fully deduct (and thus not pay tax on) dividends received...more

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

Troutman Pepper 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

Income Taxes › Tax Cuts and Jobs Act › New Legislation