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Proposed Legislation Income Taxes

Fisher Phillips

How Will the Election and Recent Legislative Trends Impact Tipped Wages? 4 Developments for Hospitality Employers to Watch

Fisher Phillips on

There’s been a lot of buzz about tipped wages as Election Day approaches – and hospitality employers will want to track key proposals that may have a huge impact on pay practices. Former President Trump and Vice President...more

Cadwalader, Wickersham & Taft LLP

Give Unto Caesar – Crypto?

On June 25, 2024, Congressman Matt Gaetz (R-FL) introduced H.R. 8822 (the “Bill”), which would add Section 6316A to the Code, allowing individuals to pay their federal income tax using Bitcoin. According to Gaetz, “enabling...more

Goodwin

New Tax Measures Designed to Reinforce Luxembourg’s Attractiveness

Goodwin on

On 17 July 2024, the Luxembourg government introduced, under new Bill n° 8414, a comprehensive legislative package meant to modernise and enhance Luxembourg’s tax system. ...more

Foley & Lardner LLP

Bipartisan Proposal Would Not Tax Staking Rewards Until Time of Sale

Foley & Lardner LLP on

On Tuesday, April 30, 2024, U.S. Congressmen Drew Ferguson (R-GA) and Wiley Nickel (D-NC) introduced a bill, the Providing Tax Clarity for Digital Assets Act, to codify the U.S. federal income tax treatment of the acquisition...more

Dentons

Iowa General Assembly – Legislative Session Week 14

Dentons on

The legislature picked up the pace in week 14 as a real push toward the end of session began. The House and Senate spent extensive time on the floor, working to clear their calendars—which included several controversial...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 40 - March 2024

Legislative Day 40 is a roller coaster, full of ups, downs, and zero gravity turns (also known as conference committee reports). One goes from celebrating a bill achieving final passage to lamenting a measure being gutted...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 37 - March 2024

Senate committee meetings continue under the Gold Dome as this report is published on Wednesday. With the Senate’s requirement that bills pass out of committee before the chamber convenes for Legislative Day 38, legislators...more

Cadwalader, Wickersham & Taft LLP

UK Spring Budget 2024

Key Tax Measures The Chancellor of the Exchequer delivered the United Kingdom (“UK”) Spring Budget for 2024 on 8 March, 2024.  The Budget was delivered against the backdrop of an anticipated general election in the summer...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 29 - March 2024

While legislators and lobbyists continued to nurse the hangover of Crossover Day, the most unlikely of events unfolded in the Georgia State Senate on Monday. Senate Majority Leader Steve Gooch (R-Dahlonega) awarded the...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 28 - March 2024

Thursday carried several distinctions under the Gold Dome. It was Leap Day, the quadrennial opportunity to celebrate those born on Feb. 29. It was Crossover Day, the day we all have to explain to our significant others each...more

McDermott Will & Emery

Weekly IRS Roundup October 30 – November 3, 2023

McDermott Will & Emery on

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 30, 2023 – November 3, 2023. ...more

Stikeman Elliott LLP

Tax Base Erosion: Canada Responds with Draft EIFEL Rules Legislation

Stikeman Elliott LLP on

On August 4, 2023, the Department of Finance released an updated version of the draft legislation that will incorporate the excessive interest and financing expense limitation rules (“EIFEL Rules”) into the Income Tax...more

McDermott Will & Emery

Weekly IRS Roundup September 11 – September 15, 2023

McDermott Will & Emery on

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 11, 2023 – September 15, 2023...more

Brownstein Hyatt Farber Schreck

House Republicans Introduce Expansive Tax-Reform Package: The American Families and Jobs Act

House Ways and Means Committee Chairman Jason Smith (R-MO) unveiled committee Republicans’ economic-growth package on June 9, introducing three individual bills that encompass tax provisions relevant to a broad cross-section...more

Brownstein Hyatt Farber Schreck

Summary of Danny Werfel Nomination Hearing

On Wednesday, Feb. 15, the Senate Committee on Finance held a hearing to consider the nomination of Daniel Werfel to be commissioner of the Internal Revenue Service (IRS). Werfel testified before the committee on the agency’s...more

McDermott Will & Emery

Weekly IRS Roundup January 30 – February 3, 2023

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 30, 2023 – February 3, 2023...more

Eversheds Sutherland (US) LLP

New York Governor releases Fiscal Year 2024 Executive Budget

On February 1, 2023, New York Governor Kathy Hochul released her Fiscal Year 2024 Executive Budget and accompanying legislation (the Budget Bill). The Budget Bill includes several tax rate adjustments and technical fixes to...more

Brownstein Hyatt Farber Schreck

Ways and Means Chair Jason Smith’s Potential Legislative Agenda

Following two rounds of votes, the House Republican Steering Committee elected Rep. Jason Smith (R-MO) to serve as the chair of the House Ways and Means Committee for the 118th Congress. Smith has served on the committee...more

Brownstein Hyatt Farber Schreck

Jason Smith to Chair House Ways and Means Committee

Earlier today, the Republican House Steering Committee selected Rep. Jason Smith (R-MO) to serve as the chair of the House Ways and Means Committee for the 118th Congress. Jason Smith ultimately defeated fellow Republican...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, Dec. 6, 2022

Legislative Lowdown - Last-Minute Attempt to Revive Permitting Legislation. According to sources familiar with the matter, several moderate lawmakers from both parties are pushing to include energy-permitting reform...more

Stoel Rives - Mineral Law

Tax Actions by the Alaska Legislature in 2022

In my most recent column for State Tax Notes, I look at several bills that did and didn’t pass in the latest session of the Alaska State Legislature, which adjourned in May, and at what may be on the horizon....more

Brownstein Hyatt Farber Schreck

Taxation & Representation, Sept. 27, 2022

LEGISLATIVE LOWDOWN - Congress Advances Towards CR as Deadline Approaches. Yesterday, Senate Democrats proposed legislation to fund the federal government through Dec. 16 with the use of a continuing resolution (CR). The...more

Brownstein Hyatt Farber Schreck

Colorado’s 2022 Ballot Certified—So What’s on It?

The statewide ballot for Colorado is set. This past week, Secretary of State Jena Griswold officially certified the state’s ballot for the Nov. 8, 2022, election. In addition to the candidates for state and local offices,...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, September 20, 2022

Democrats’ Latest Push for an Expanded CTC. With the year-long effort to legislate a comprehensive energy, healthcare and tax bill finally completed, many Democratic lawmakers and members of the administration have fully...more

Cadwalader, Wickersham & Taft LLP

Mini-Me Crypto Tax Legislation

Bipartisan crypto legislation was introduced by Senators Pat Toomey (R-PA) and Kyrsten Sinema (D-AZ) on July 26, 2022. If enacted, the Virtual Currency Tax Fairness Act would exclude from gross income gain on certain de...more

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