News & Analysis as of

Trump Administration Tax Rates

Sheppard Mullin Richter & Hampton LLP

USTR Suspends Tariffs on Certain French Luxury Goods: A Potential Shift in Trade Talks

Key Takeaways: • Threatened 25% tariffs on French luxury goods are suspended. • USTR is still looking at tariffs in retaliation for taxes on U.S. global tech companies. • Biden’s new USTR will face immense pressure to...more

Williams Mullen

[Webinar] Tax Planning: 2020 & Beyond - October 28th, 12:00 pm - 1:00 pm EST

Williams Mullen on

2020 has been an uncertain year on many fronts. As we head towards year-end, we’ve seen an uptick of questions and concerns from our clients on navigating potential rate changes that could occur pending the outcome of the...more

Farrell Fritz, P.C.

The Election, The Democrats’ Tax Proposals, And Year-End Tax Planning: Caught Between Scylla And Charybdis

Farrell Fritz, P.C. on

What a Week- There is no denying that last week’s political events were historic; one can only hope they were aberrational. The week began with the Sunday New York Times publishing a story in which it claimed to have...more

Perkins Coie

IRS Announces Delay of Certain Periods for 1031 Transactions

Perkins Coie on

In response to the ongoing coronavirus pandemic (COVID-19), the Internal Revenue Service (the IRS) has taken additional actions intended to provide immediate relief to taxpayers. Delay of Identification and Acquisition...more

Blank Rome LLP

Five Tax Benefits that Might Go Away if President Trump Is Not Reelected

Blank Rome LLP on

As the calendar turns to another presidential election year, it’s never too early to start thinking about tax preparation as the next occupant of the oval office will likely have a major impact on the nation’s tax laws and...more

Polsinelli

IRS Confirms No “Clawback” for Gifts Made Under the Increased Estate and Gift Tax Exclusion

Polsinelli on

On November 26, 2019, the Treasury Department and the IRS issued final regulations under IR-2019-189 confirming that there will be no “clawback” for gifts made under the increased estate and gift tax exclusion put in place by...more

Kramer Levin Naftalis & Frankel LLP

New Section 162(m) Proposed Regulations

The Tax Cuts and Jobs Act of 2017 (TCJA) made significant changes to Section 162(m) of the Internal Revenue Code (Section 162(m)), expanding the scope of individuals and entities subject to Section 162(m), in addition to...more

Cozen O'Connor

Changes to the Pennsylvania Support Guidelines in Response to the New Tax Law

Cozen O'Connor on

For the past several decades the “alimony deduction” has been available to all divorcing couples. This deduction provided that the spouse making alimony payments could deduct alimony payments from his or her income and the...more

White & Case LLP

Peak performance: US M&A in 2018: US M&A survey: Deal drivers and dilemmas

White & Case LLP on

We surveyed 200 executives on their views about the future of M&A and found that most remain optimistic about 2019 - On the one hand, the US economy has grown steadily, unemployment is down, interest rates remain low and...more

Brownstein Hyatt Farber Schreck

State of the Union – Tax and Infrastructure

On Tuesday, Feb. 5, President Donald Trump delivered the State of the Union address. The theme was “choosing greatness,” with President Trump discussing a range of topics from immigration and trade to foreign policy and space...more

White & Case LLP

Peak performance: US M&A in 2018: Confidence, cash and tax cuts: The US M&A landscape in 2018

White & Case LLP on

The US M&A market delivered another year of strong performance in 2018. Though deal volume dipped 2 percent year-on-year to 5,682 deals, deal value was up by 15 percent over the period, to US$1.5 trillion - A number of...more

Cadwalader, Wickersham & Taft LLP

New IRS Guidance Regarding Section 162(m)’s Deduction Limitation for Executive Compensation – Increased Complexity and Reduced...

The Internal Revenue Service (the “IRS”) recently issued Notice 2018-68 (the “Notice”) that provides guidance regarding the application of Section 162(m) of the Internal Revenue Code of 1986, as amended (“Section 162(m)”)...more

Hogan Lovells

IRS issues initial guidance on application of Code Section 162(m) as amended by the Tax Cuts and Jobs Act

Hogan Lovells on

On August 21, the Internal Revenue Service (IRS) issued Notice 2018-68 containing much-awaited interpretive guidance on Section 162(m) of the Internal Revenue Code as amended by last year's tax reform act (Tax Act), including...more

Troutman Pepper

IRS Issues Guidance on Section 162(m) Changes

Troutman Pepper on

On August 21, the IRS issued Notice 2018-68 to provide guidance on changes to Internal Revenue Code Section 162(m), enacted by the Tax Cuts and Jobs Act of 2017 (TCJA). Section 162(m) generally limits the tax deduction...more

Stinson - Benefits Notes Blog

All Businesses, even if not Subject to 162(m), Should Consider Gathering Data to Support Future Deduction of Deferred Compensation...

As mentioned in a previous blog, the IRS has issued its initial guidance on Code Section 162(m), as modified by the Tax Cuts and Jobs Act. One important aspect of the guidance is its discussion of preserving deductibility...more

McGuireWoods LLP

Update on Tax Cuts 2.0

McGuireWoods LLP on

House Republicans are preparing to hit the campaign trails with another tax-cut package in tow. Ways and Means Chairman Kevin Brady (R-TX) is hoping to provide a public preview of Tax Cuts 2.0 in August; this should give...more

Pullman & Comley, LLC

Are Connecticut Income Taxes Now Tax Deductible For The Owners Of Pass-Through Entities?

Pullman & Comley, LLC on

June 5, 2018 The Tax Cuts and Jobs Act, which was passed by Congress last year, imposed a $10,000 limit on state and local tax (“SALT”) deductions. ...more

Foodman CPAs & Advisors

Make your connection with the “Top 10” Tax Cut and Jobs Act Changes and be prepared for 2019!

Here are the changes from the Tax Cut and Jobs Act (TCJA) that will impact “most” Individuals when they prepare their 2018 Tax Returns in 2019...more

Troutman Pepper

Focus on New Tax Law: Section 199A Pass-Through Deduction and Restrictions on Interest Deductions Tax Update, Volume 2018, Issue 2

Troutman Pepper on

The Tax Cuts and Jobs Act (2017 Tax Act) significantly modified the treatment of certain deductions for many business taxpayers, including partners and partnerships....more

Troutman Pepper

IRS Withholding Tax Guidance Helpful, But Not Perfect

Troutman Pepper on

As we previously reported, following the tax reform package passed in December, private equity limited partner investors based outside the United States are now subject to tax on gains from the sale of partnership interests. ...more

Carlton Fields

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

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

Dechert LLP

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

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

Polsinelli

Impact of New Tax Laws on Estate Planning

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

Kramer Levin Naftalis & Frankel LLP

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

McDermott Will & Emery

TTB Publishes Additional Tax Act Guidance on 5010 Wine and Flavor Credits

McDermott Will & Emery on

On March 23, 2018, TTB published additional Tax Act guidance on its website. Three new clarifications address the interaction of the new Tax Act rates/credits with the wine and flavor credits available under 26 U.S.C. § 5010....more

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