News & Analysis as of

Tax Cuts and Jobs Act

Kilpatrick

5 Key Takeaways | OBBBA: State and Local Tax Issues and Impacts – Analysis and Practical Guidance

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Chicago SALT Partner David Hughes recently presented a joint webinar with DHJJ, a Chicago-based full-service accounting firm, on “OBBBA: State and Local Tax (SALT) Issues and Impacts – Analysis and Practical Guidance.”...more

Harris Beach Murtha

New Rules for Qualified Opportunity Zones Present Opportunities

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The Qualified Opportunity Zone (QOZ) program was enacted in 2017 to promote economic development in low-income communities by allowing investors to defer taxes on capital gains through investments in Qualified Opportunity...more

Baker Donelson

SALT Select Developments - January 2026

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. In this newsletter edition, we briefly summarize selected state and local tax (SALT)...more

FBT Gibbons LLP

Debunking Opportunity Zone Myths: What You Need to Know Before States Redesignate in 2026

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Since their creation in 2017, Opportunity Zones (or OZs) have channeled billions of dollars into over 8,700 designated census tracts nationwide, making the OZ program one of the most ambitious community development...more

Mayer Brown

One Big Beautiful Bill Act, Part 3: Executive Pay IRC 162 changes, Alternative Minimum Tax considerations, and the New Section...

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Join us for this three-part series covering how the One Big Beautiful Bill Act reshapes the workplace benefits conversation. This series features Ryan Liebl, Hillary August, and Stephanie Vasconcellos who provide insight into...more

Snell & Wilmer

2025 End-of-Year Plan Sponsor “To Do” List (Part 4) Executive Compensation

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As 2025 comes to an end, we are pleased to present our traditional End-of-Year Plan Sponsor “To Do” Lists. This year, we present our “To Do” Lists in four separate SW Benefits Updates. Part 1 addressed health and welfare plan...more

Goodwin

Tax-Exempt Organizations - Amended Rules on Excise Tax on Compensation Over $1 Million Take Effect January 1, 2026

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Beginning with taxable years that start after December 31, 2025, changes to section 4960 of the Internal Revenue Code (IRC) will take effect that may substantially affect tax-exempt organizations, such as certain colleges and...more

DLA Piper

REIT Tax News - December 2025

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Welcome to the 2025 year-in-review edition of REIT Tax News. Below, we summarize five key developments impacting REITs from the past year. The One Big Beautiful Bill Act’s impact on REITs - On July 4, 2025, President...more

Downs Rachlin Martin PLLC

Trusts and Estates Law Changes – Looking Ahead to 2026

The beginning of 2025 marked an uncertain year for estate tax planning purposes. With the estate tax exemptions set forth by the 2017 Tax Cuts and Jobs Act scheduled to expire at the conclusion of the year, there was much...more

Allen Barron, Inc.

Is It Time to Update Your Estate Plan or Trust?

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Is it time to update your estate plan or trust?  How often should one revisit existing estate planning?  What impact will taxation have upon your present and future finances and estate planning?...more

Katten Muchin Rosenman LLP

2025 – 2026 Planning Priorities - 2025 Year-End Estate Planning Advisory

This year's planning season arrives amid sweeping tax and regulatory changes that affect income, wealth transfer, business, trust administration and reporting. The enactment of the One Big Beautiful Bill Act (OBBBA) reshaped...more

Katten Muchin Rosenman LLP

The One Big Beautiful Bill Act: Key Year-End Tax Changes for Private Wealth Clients - 2025 Year-End Estate Planning Advisory

The One Big Beautiful Bill Act (OBBBA), Pub. L. No. 119-21, enacted on July 4, 2025, marks a sweeping overhaul of the United States Internal Revenue Code of 1986 (Code). Fulfilling a major campaign promise of the Trump...more

Kelley Drye & Warren LLP

What We Learned from … South Carolina (Part Two): IRS Regulations Affecting Consumer Protection Settlements 

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Jared Libet, Assistant Deputy Attorney General in the Consumer Protection Unit, recently joined a Kelley Drye webinar to discuss IRS regulations and their impact on consumer protection settlements....more

Bilzin Sumberg

Opportunity Zones and the Sports & Entertainment Industries: New Incentives Under the OBBBA

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The Opportunity Zone (OZ) program, originally enacted under the 2017 Tax Cuts and Jobs Act, was designed to stimulate private investment in low-income communities by offering significant tax benefits to investors who reinvest...more

Bradley Arant Boult Cummings LLP

Alabama Department of Revenue Issues Helpful Analysis of Impact of OBBBA on Alabama Income Tax Code

As readers may recall, on July 4, 2025, President Trump signed into law the massive One Big Beautiful Bill Act (OBBBA) as Public Law 119-21, which made permanent many provisions of the Tax Cuts and Jobs Act of 2017. OBBBA...more

Steptoe & Johnson PLLC

Key Q4 Tax Updates for Businesses

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With the fourth quarter underway, recent changes to federal tax law made by the One Big Beautiful Bill Act (OB3) remain at the forefront of business planning for operations, investments, and acquisitions. OB3 became law July...more

Falcon Rappaport & Berkman LLP

IRS Releases Revenue Procedure 2025-28 Providing Guidance on Electing to Accelerate Deduct R&E Under Section 174

On August 28, 2025, the Internal Revenue Service (IRS) issued Revenue Procedure 2025-28, providing procedural guidance for taxpayers on the treatment of research and experimental (R&E) expenditures under I.R.C. § 174. ...more

Lathrop GPM

The Sunset That Didn’t Set: OBBBA and the Future of Tax Planning

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The enactment of the One Big Beautiful Bill Act (OBBBA) on July 4, 2025, brings clarity on key provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) that were set to expire at the end of 2025. ...more

Allen Barron, Inc.

The New IRS Tax Bracket Changes for 2026

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The cat is out of the proverbial bag as the new IRS tax bracket changes for 2026 have been published. The IRS has released the 2026 income tax brackets for U.S. taxpayers. How will this impact the tax picture of most...more

DLA Piper

IMpact: Investment Management News - Q3 2025

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Welcome to IMpact: Investment Management News. In this regular bulletin, DLA Piper lawyers share their insights on key developments that are impacting the investment management industry. ...more

Lathrop GPM

OBBBA Ushers in a New Era for Closely Held Businesses

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The One Big Beautiful Bill Act (OBBBA) is big news for closely held businesses. Signed into law on July 4, 2025, by President Trump, the massive spending and tax package made many provisions from the 2017 Tax Cuts and Jobs...more

Holland & Knight LLP

The Impact of the One Big Beautiful Bill Act on Family Offices

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President Donald Trump on July 4, 2025, signed into law H.R.1, commonly referred to as the One Big Beautiful Bill Act (OBBB). (For a detailed analysis of the bill, see Holland & Knight's previous alert, "Trump Signs the One...more

Whiteford

Client Alert: Taxable Entity Choice and the Lure of C Corporations

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Before the 2017 Tax Act, owners of a two-or-more-owner business should generally have elected that such business be an LLC taxable as a partnership. After the 2017 Tax Act, that advice remains sound. However, for a business...more

FBT Gibbons LLP

It Is in the Giving That We Receive: Federal Charitable Contribution Tax Regime Changes Under the One Big Beautiful Bill Act

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Effective charitable planning was already an intricate and complex process before the passage of the One Big Beautiful Bill Act (OBBBA) in July of 2025. The new legislation, while making swaths of changes to the charitable...more

Goulston & Storrs PC

Navigating the One Big Beautiful Bill Act: Key Real Estate Provisions for Decision Makers

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On July 4, 2025, the President signed into law a reconciliation bill that is referred to as the One Big Beautiful Bill Act (“OBBBA”). In significant part, the OBBBA extended or made permanent various provisions of the Tax...more

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