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A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous... more +
A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous thirty days. less -
McGlinchey Stafford

Impacts of Cannabis Rescheduling on Bankruptcy

McGlinchey Stafford on

Despite the excitement of many over rescheduling cannabis from Schedule I to Schedule III, the move does not make cannabis “legal” unless it is produced, sold, and used within the tightly regulated parameters of the...more

Allen Barron, Inc.

Passing Assets and Accounts to Your Heirs Is About To Become Much More Difficult

Allen Barron, Inc. on

If you are in the process of long-term estate planning or updating an existing estate plan, the process for passing assets and accounts to your heirs is about to become much more difficult and expensive. Presently, each...more

McGlinchey Stafford

Marijuana Rescheduling is Here: How DEA’s Decision Will Impact Cannabis Businesses

McGlinchey Stafford on

After fifty years, the federal government finally acknowledged that marijuana has medical value and is not as dangerous as heroin. As first reported by the Associated Press and confirmed by Marijuana Moment, on April 30,...more

Weber Gallagher Simpson Stapleton Fires &...

Child Tax Credit Modifications: Implications for Divorcing Couples

Weber Gallagher Simpson Stapleton Fires &... on

Parties going through a divorce often negotiate the child tax credit and dependency exemptions in either support or divorce court. The Child Tax Credit has been modified several times in the past few years and once again may...more

Proskauer - Tax Talks

Tax Relief for American Families and Workers Act of 2024

Proskauer - Tax Talks on

On January 17, 2024, Senate Finance Committee Chairman Ron Wyden (D-Ore.) and House Ways and Means Committee Chairman Jason Smith (R-Mo.) released a bill, the “Tax Relief for American Families and Workers Act of 2024”...more

Allen Barron, Inc.

IRS to Leave More in Our Paychecks in 2024

Allen Barron, Inc. on

Is it possible for the IRS to leave more in our paychecks in 2024? What has changed for the 2024 federal income tax brackets and how will these apply to the tax return(s) you’ll file in 2025?...more

Bowditch & Dewey

Massachusetts Tax Reform Enacted – Estate Tax Exemption Increase and Other Help for Residents

Bowditch & Dewey on

The long-awaited Massachusetts tax reform package was signed by Governor Maura Healey on Wednesday, October 4, 2023. Among the provisions: Estate Tax Reform: Establishes a non-refundable credit of $99,600 for each estate,...more

Woods Rogers

Following the Government’s Playbook: Tax Incentives for CRE Investments 

Woods Rogers on

Investing in commercial real estate can offer various tax incentives that can help investors reduce their tax liability and enhance the overall profitability of their investments. Below is a non-exhaustive summary of key tax...more

Fox Rothschild LLP

IRS Cracks Down on Charitable Contributions of Cryptocurrency

Fox Rothschild LLP on

On January 13, 2023, the IRS issued Chief Counsel Memorandum 202302012 (the “CCM”) establishing new rules for donations of cryptocurrency. In the CCM, the IRS concluded that taxpayers must obtain a ‘qualified appraisal’ if...more

Lasher Holzapfel Sperry & Ebberson PLLC

Internal Revenue Service Announces Changes to Income Thresholds for 2022 Federal Income Tax Brackets

Lasher Holzapfel Sperry & Ebberson PLLC on

The IRS has announced it will be adjusting income thresholds for federal income tax brackets in 2022. Typically, the IRS raises thresholds to keep pace with consumer prices, however October’s year-over-year increases of...more

Rivkin Radler LLP

Selling to Private Equity? Maybe You Should “F Reorg” First

Rivkin Radler LLP on

Having Fun? Hope you had a decent weekend. Perhaps you did something interesting, maybe even fun, like some end-of-season apple picking? Or maybe you had a cider donut with some hot coffee at a farm stand you stumbled upon...more

A&O Shearman

Estate Planning Advisory - House Ways and Means Proposal

A&O Shearman on

The House Ways and Means Committee recently proposed sweeping changes to the tax code that would significantly impair fundamental wealth transfer planning techniques. We recommend that you consider taking action now....more

White & Case LLP

Top considerations –EMEA Tax trends impacting Private Equity Real Estate in 2021

White & Case LLP on

White & Case has advised a large number of high-profile international clients on cutting-edge, cross-border and domestic private equity real estate deals, providing valuable strategic tax insight to a broad range of investors...more

Lowenstein Sandler LLP

Paycheck Protection Program Round 2: FAQs For Microbusinesses - May 2021

Lowenstein Sandler LLP on

On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

Rivkin Radler LLP

Biden’s Proposed Income Tax Increases And The Sale Of The Baby Boomer Business

Rivkin Radler LLP on

“Yeah, I’m the Tax Man” Last week, several media outlets reported that Mr. Biden will soon propose that Congress increase the federal income tax rate applicable to long-term capital gains recognized by individual...more

Farrell Fritz, P.C.

The Biden Presidency: How Will Cannabis Business Be Taxed?

Farrell Fritz, P.C. on

Wither the Weed? It has been one month since Mr. Biden’s inauguration as President of the United States. Among the many questions being asked of President Biden is whether he will seek the decriminalization of cannabis....more

Schwabe, Williamson & Wyatt PC

Economic Aid Act: 10 Things to Know about Second Draw PPP Loans - Update

Schwabe, Williamson & Wyatt PC on

Late on January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans”...more

Gould + Ratner LLP

Congress Passes $900 Billion Relief Act and Revises the PPP

Gould + Ratner LLP on

After months of intense negotiations, Congress passed a new relief bill this week. Assuming President Trump signs the bill, or Congress overrides a veto, it delivers change just in time for the new year. Tucked into the...more

Lowndes

The Consolidated Appropriations Act, 2021: Round 2 of the Paycheck Protection Program

Lowndes on

After days of uncertainty, the Consolidated Appropriations Act, 2021 (the “Act”) was passed by Congress on December 21, 2020, and signed into law by President Donald Trump on December 27, 2020....more

Pillsbury Winthrop Shaw Pittman LLP

Paycheck Protection Program Update: COVID-19 Relief Bill to Make New Loans Available, Reverse IRS Position on PPP-Forgiven Tax...

Pillsbury Winthrop Shaw Pittman LLP on

New COVID-19 Relief Bill includes key changes to the Paycheck Protection Program (PPP), including making second loans available to certain businesses, and clarifies that forgiven PPP loans will be tax deductible. The new...more

Lowndes

New COVID-19 Relief Bill Allows Deductibility of Expenses Paid with Forgiven PPP Loans

Lowndes on

As I previously reported in an article published earlier this month, the IRS has repeatedly taken the position that businesses cannot deduct otherwise deductible expenses (such as payroll or rent) if the business used...more

ArentFox Schiff

Federal Tax Court Clarifies Cannabis Income Tax Liability

ArentFox Schiff on

To change its method of accounting, a taxpayer must receive consent from the IRS and should provide evidence showing the change in business activity, so that the IRS can confirm that the change in method of accounting will...more

ArentFox Schiff

Bipartisan Relief Bill Seeks to Allow Tax Deduction for PPP Loan Expenditures

ArentFox Schiff on

On Monday, December 14, Senator Joe Manchin (D-WV) and Senator Susan Collins (R-Maine) introduced the “Emergency Coronavirus Relief Act of 2020,” which would provide another round of relief to combat the economic fallout...more

Freeman Law

International Tax Treaty: China

Freeman Law on

Quick Summary. The People’s Republic of China is the world’s most populous country and carries a rich cultural tradition. China is the world’s largest exporter and the second largest economy. A unitary socialist republic,...more

Snell & Wilmer

IRS Releases Much-Awaited Guidance on PPP-Loan-Related Expenses, But More is Still Needed

Snell & Wilmer on

On November 18, 2020, the Internal Revenue Service ("IRS") clarified its stance on the deductibility of expenses paid or incurred by businessowners who participated in the Paycheck Protection Program (“PPP”) by issuing...more

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