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Winston & Strawn LLP
The world of professional sports has seen its share of activity in recent weeks, with the new NFL league year and free-agency-signing period opening and the sights and sounds of MLB Opening Day filling the air in recent weeks.
Lane Powell
The Washington Department of Revenue continues to update its guidance on Washington's excise tax on long-term capital gains, resulting in the most recent proposed rule, WAC 458-20-301.
Gray Reed & McGraw LLP
In a recent Tax Court decision, the court reviewed the activities of the Huffman family as it pertained to corporate dealings involving the family aviation business...
Thompson Coburn LLP
Individual taxpayers who itemize deductions on their federal income tax returns generally can offset federal taxable income for taxes paid to state and local governments.
McDonald Hopkins
From 2020 to 2023, there was a high degree of uncertainty in the future of tax and estate planning. With significant elections and mixed predictions, estate and tax advisors demonstrated...
Greenberg Traurig, LLP
On March 11, the Treasury Department and Internal Revenue Service (IRS) issued final regulations (Final Regulations) under Section 6417 of the Internal Revenue Code (Code), providing rules...
The International Compliance Assurance Program is a voluntary program that helps companies assess international tax risks to quickly achieve greater tax certainty across multiple jurisdictions...
Farrell Fritz, P.C.
Most communities across New York, whether they're in the shadow of the Manhattan skyline or a stone's throw from a Finger Lake...
Liskow & Lewis
On March 22, 2024, the Treasury Department published a proposed regulation relating to certain transactions involving Charitable Remainder Annuity Trusts ("CRATs") investing in single premium immediate annuities ("SPIAs").
Kelley Drye & Warren LLP
U.S. citizens and residents who have received gifts (including bequests) exceeding certain thresholds from foreign persons must generally report such gifts to the IRS. Recipients...
Proskauer Rose LLP
On March 11, 2024, the Biden Administration released the Fiscal Year 2025 Budget, and the "General Explanations of the Administration's Fiscal Year 2025 Revenue Proposals,"...
Holland & Knight
The Chips and Science Act of 2022 (CHIPS Act) added Section 48D to the Internal Revenue Code to incentivize the production of semiconductors and semiconductor manufacturing equipment in the United States.
Cadwalader, Wickersham & Taft LLP
In President Biden's recent State of the Union Address, he called on corporations and wealthy taxpayers to pay their "fair share" through proposals to end tax breaks...
Gray Reed & McGraw LLP
A recent U.S. Tax Court decision provides clarity to what the Internal Revenue Service ("IRS") considers a limited partner for purposes of the ‘limited partner exception...
Taft Stettinius & Hollister
The Internal Revenue Service (IRS) has launched a new effort to collect delinquent taxes from high-income taxpayers who failed to file federal income tax returns between 2017 and 2021.
Withers LLP
Tax season each year is a convenient time to ensure that your estate plan is effective by confirming that all your assets (other than retirement accounts...
Sideman & Bancroft
On February 29, 2024, the IRS announced a new initiative focused on high-income taxpayers who have failed to file federal income tax returns since 2017.
Foley & Lardner
Recruiting and retaining top executives can be challenging for non-governmental tax-exempt organizations such as Code §501(c)(3) organizations, private universities, and certain healthcare organizations (Nonprofits).
Alvarez & Marsal
The Biden Administration's fiscal year 2025 budget submitted to Congress on March 11, 2024, is nearly the spitting image of last year's budget, with a few new twists...
K&L Gates
On Monday, 11 March 2024, the Biden administration released the president's budget request (PBR) for fiscal year 2025 (FY2025), as well as the "Greenbook" containing explanations of the various revenue...
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