News & Analysis as of

Tax Rates

Tax Court Win: Stockbroker Meets Test Qualifying as Real Estate Professional

by Moskowitz LLP on

Qualifying as a real estate professional can be the difference between being able to deduct losses from your real estate activities and having passive activity losses that you cannot deduct. For a Florida stockbroker with...more

IRS Releases 2018 PTC Amounts

by Foley & Lardner LLP on

The IRS just published its annual notice that provides the inflation adjustment factors and reference prices used in determining the amount of the section 45 production tax credit (PTC) for the production of renewable energy...more

High Times for Affordable Housing?

As noted in a prior post, the affordable housing industry is struggling to make ends meet after equity pricing took a dive in response to the decreased corporate tax rate under President Trump’s tax reform plan. While some...more

Tax Court Disallows Rental Loss Deduction To Taxpayer Who Failed To Qualify As A Real Estate Professional

by Moskowitz LLP on

In our last post, we explained how an architect proved to the Tax Court that he qualified as a real estate professional, and was subsequently permitted to deduct passive activity losses from his real estate activities. Here,...more

Important decision from the Supreme Administrative Court [NSA]: Tax Authorities are now required to assess the correctness of the...

by Hogan Lovells on

The Supreme Administrative Court has confirmed that the Director of the National Fiscal Information Bureau will now be required to assess the correctness of the statistical classification when issuing a tax ruling. This...more

The New Tax Law May Make Your Patents And Other IP Less Valuable

by Cole Schotz on

One little-publicized part of the new tax law (Tax Cuts and Jobs Act of 2017) may negatively affect the value of some patents and other intellectual property. It does so by changing the tax treatment of income from sales of...more

Tax Reform: Insurance Company Provisions

by Carlton Fields on

Recent tax legislation, informally known as the Tax Cuts and Jobs Act (the “Act”) contains several changes that affect the insurance industry....more

The 2017 Tax Cuts and Jobs Act – A Boon for the Commercial Real Estate Industry

by Moskowitz LLP on

The new tax law ( 2017 TCJA) is great news for the commercial real estate industry. Owners of pass-through entities may deduct up to 20 percent of their business income on their tax return, subject to certain limits, and...more

Tax Law’s Impact on Real Estate Industry

by Moskowitz LLP on

This GlobeSt.com article features an interview with Moskowitz Attorney Steve Moskowitz. The new tax law promises to have a significant impact on owners, investors and the real estate industry as a whole. In this exclusive,...more

2018 Spending Plan Boosts Funding for Affordable Housing

On March 23, President Trump signed into law the Consolidated Appropriations Act, 2018, a $1.3 trillion spending package that includes a 12.5% increase in low-income housing tax credit allocations over the next four years,...more

IRS releases Notice 2018-26 - retroactively disregarding certain accounting method changes and entity classification elections

The Treasury Department and the Internal Revenue Service (IRS) issued Notice 2018-26, which provides guidance under section 965 of the Internal Revenue Code regarding the “transition tax.” Section 965 imposes a transition tax...more

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

by Carlton Fields on

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

West Coast Real Estate Update - April 2018

by Holland & Knight LLP on

Federal Budget Helps Affordable Housing - Advocates for and developers of affordable housing lamented tax cuts passed late last year. A decrease in the corporate tax rate made the low-income housing tax credit (LIHTC)...more

Global Private Equity Newsletter - Winter/Spring 2018 Edition: Snapshot of Tax Act Changes for PE Funds and their Portfolio...

by Dechert LLP on

President Trump signed into law tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”) on December 22, 2017. The Tax Act implemented the most far-reaching changes to the Internal Revenue Code (the...more

IRS Issues Transitional Guidance Regarding the New "Restitution" Tax Deduction That Affects False Claimes Act and Other Government...

by Foley & Lardner LLP on

Effective immediately, a settlement agreement or a judgment with the government must set forth the specific amount of restitution, remediation of property, or monies paid to come into compliance with any law violated, for...more

Impact of New Tax Laws on Estate Planning

by Polsinelli on

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by the President on December 22, 2017, and represents one of the most significant rewritings of the federal tax code since 1986. ...more

Multinational Financial Groups After the U.S. Tax Reform: Selected Inbound and Outbound Issues

by Latham & Watkins LLP on

Introduction and Overview - The Tax Cuts and Jobs Act (“TCJA”) resulted in the most sweeping changes to the Internal Revenue Code (the “Code”) in decades and will result in countless articles and commentary to address the...more

Deducting Attorneys’ Fees Under the Tax Cuts and Jobs Act of 2017

The Tax Cuts and Jobs Act of 2017 (the “2017 Act”) purports to bring broadly lower tax rates to most U.S. individuals and companies; however, it does so at the expense of clear tax policy objectives in many areas. That lack...more

UK ‘Sugar Tax’ Comes into Force – New Guidance Published for Industry

by Hogan Lovells on

The UK tax authority HM Revenue and Customs (HMRC) has published a series of practical guidance documents and additional online information to assist companies with understanding and complying with the new UK ‘Soft Drinks...more

UK Tax Round Up - March 2018

by Proskauer Rose LLP on

Welcome to the March edition of the Proskauer UK Tax Round Up. As promised, the Spring Statement from the Chancellor focused on the economy and public finances without any major tax announcements. However, a few interesting...more

Empty Rates Relief: Get your toilet rolls in order

by Dentons on

The Local Government Finance Act 1988 (LGFA 1988) requires local authorities to collect National Non-Domestic Rates for hereditaments which are in rateable occupation and appear in the Local Non-Domestic Rating List (section...more

Bonus Depreciation: What You Need to Know for Your Business

by Bowditch & Dewey on

Since 2002, bonus depreciation under the Job Creation and Worker Assistance Act has been allowed in some form. Bonus depreciation allows for more current expensing for eligible property than allowed under the current...more

Foreign-Derived Intangible Income

by Alston & Bird on

It’s probably the next-best part of the Tax Cuts and Jobs Act for multinationals. Our Federal Tax Group investigates the foreign-derived intangible income regime and how you can use it....more

Tax Reform Act Changes to CFC Attribution Rules

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

California Proposes To Base Tax Rate On Compensation Ratio

by Allen Matkins on

The California legislature may soon be considering a bill that would revise the tax rates for publicly held corporations based on their compensation ratios. As introduced by Senator Nancy Skinner, SB 1398 would establish the...more

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