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Tax Credits Proposed Legislation

Fisher Phillips

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

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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

Husch Blackwell LLP

Proposed Federal Legislation Aims to Address Underutilized Commercial Real Estate

Husch Blackwell LLP on

Earlier this summer, bipartisan legislation was introduced in the U.S. House of Representatives aimed at spurring the redevelopment of existing underutilized or vacant commercial properties and converting them for residential...more

Seyfarth Shaw LLP

House Representatives Introduce Bipartisan Bill to Facilitate Residential Conversions of Buildings

Seyfarth Shaw LLP on

On July 12, 2024, a bipartisan bill was introduced in the U.S. House of Representatives titled the “Revitalizing Downtowns and Main Streets Act” (H.R. 9002) (the “Bill”), which, if enacted, will provide an investment tax...more

Cozen O'Connor

Cozen Currents: Is Harris the Answer?

Cozen O'Connor on

The Cozen Lens - While it’s becoming ever clearer Vice President Harris is likely to be the Democratic nominee following President Biden’s decision to step aside, it’s less clear what the impact will be on the presidential...more

Harris Beach PLLC

Proposed Legislation to Incentivize Affordable Housing Conversions

Harris Beach PLLC on

The U.S. Congress is currently considering the “Revitalizing Downtowns and Main Streets Act” (the “Act”), legislation aiming to address changes in the post-pandemic real estate market and the nationwide affordable housing...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

Skadden, Arps, Slate, Meagher & Flom LLP

State of Play on US Tax Proposals

A House bill adopted in January 2024, H.R. 7024 (the Bill), would extend some business-friendly tax provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) that were being, or have already been, phased out. Titled the “Tax...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Repealing Clean Energy Credits/Macroeconomic Assessment of the GOP Proposal: Institute for Macroeconomic and Policy Analysis...

The Institute for Macroeconomic & Policy Analysis (“Institute”) released on March 11th a Report (“Report”) titled:                                 Repealing the Clean Energy Credits: A Macroeconomic Assessment of the GOP...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

Baker Donelson

Potential Tax Refunds Resulting from Constitutional Issue with Franchise Tax

Baker Donelson on

Commissioner of the Tennessee Department of Revenue (Department), David Gerregano, recently testified before the Revenue Subcommittee of the Senate Finance, Ways and Means Committee, regarding the Department's proposed...more

Pullman & Comley - For What It May Be Worth

Connecticut Bill Aims to Incentivize Commercial to Residential Building Conversions

National and local news has been replete with stories discussing the challenges and benefits of converting underutilized commercial properties such as office buildings into needed housing.  A recently introduced bill pending...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

Alston & Bird

Look Ahead to the Week of February 5: Moment of Truth for Border Deal

Alston & Bird on

Look Ahead to the Week of February 5: Moment of Truth for Border Deal - Both the Senate and House are in session this week, although the lower chamber will wrap up votes early as House Democrats depart Wednesday for their...more

Eversheds Sutherland (US) LLP

Congress considers TCJA extenders and Taiwan tax relief

In mid-January, the House introduced the Tax Relief for American Families and Workers Act (Act). The Joint Committee of Taxation has released its explanation of the Act, and the House Ways and means Committee has released a...more

Ballard Spahr LLP

HR 7024: Low-Income Housing Legislation on the Move

Ballard Spahr LLP on

On January 19, 2024, the House Ways and Means Committee approved the bipartisan tax legislation, “The Tax Relief For American Families and Workers Act of 2024”. Two proposed changes to Section 42 of the Internal Revenue Code...more

Saul Ewing LLP

Proposed Changes to the Employee Retention Credit Filing Deadline: H.R. 7024 Would Sunset the ERC on January 31, 2024

Saul Ewing LLP on

Last week, the House Ways and Means Committee voted to advance the Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) to the House floor. As drafted, H.R. 7024 would be funded entirely by limitations on the...more

Eversheds Sutherland (US) LLP

Proposed bill aims to postpone TCJA limits on business incentives

Businesses have entered 2024 facing the challenge of forecasting future tax obligations and preparing tax filings in a time of uncertainty, not the least of which is created by Congressional indecision on the future of a...more

Alston & Bird

Look Ahead to the Week of January 22: Senate Focuses on National Security Supplemental

Alston & Bird on

Look Ahead to the Week of January 22: Senate Focuses on National Security Supplemental The Senate is in session this week, but the House is out. Last week, President Biden signed an additional temporary spending bill to...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

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

Bennett Jones LLP

Federal Government Releases Legislative Proposals for Clean Technology Investment Tax Credit

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On August 4, 2023, the Federal Government released proposed legislation for the Clean Technology Investment Tax Credit (Clean Tech ITC), as proposed by the 2022 Fall Economic Statement (the 2022 FES) and as modified by Budget...more

Davies Ward Phillips & Vineberg LLP

Government of Canada Releases Package of Proposed Domestic and International Tax Legislation

The Department of Finance (Finance) released draft tax legislation for public consultation on August 4, 2023, with a stated focus on promoting tax fairness and a clean economy. The most significant item released is the...more

BakerHostetler

States Continue to Build Out Carbon Sequestration Regulatory Structure in First Half of 2023

BakerHostetler on

With 45Q tax credits beginning to flow following passage of the Inflation Reduction Act of 2022, states continue to pass carbon sequestration legislation in the hopes of bolstering and luring industry engaged in carbon...more

Bradley Arant Boult Cummings LLP

Key Takeaways for the Energy Industry from the 2023 Texas Legislative Session: What Passed and What Failed

Monday, May 29, 2023, marked the official end of the 88th regular session of the Texas Legislature. It was an especially active session for the energy industry, which saw the passage of several bills that, if signed into law...more

Eversheds Sutherland (US) LLP

Proposed Georgia legislation attempts to deny Jobs Tax Credits earned in prior years

In 2021, the Georgia Tax Tribunal ruled that a non-profit hospital was entitled to use Quality Jobs Tax Credits (QJTC) against its unrelated business income tax and its payroll withholding tax. Floyd Healthcare Mgmt., Inc. v....more

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