Partnership Terminations: When Does Something Become Nothing

The Department of the Treasury and IRS have proposed regulations that would eliminate tax-exempt status for private schools maintaining race-based policies in admissions, scholarships, or programs—regardless of remedial or diversity objectives. The rule would affect approximately 18,000 tax-exempt schools, 750,000 students, and outstanding tax-exempt bonds, fundamentally reshaping how educational institutions approach diversity initiatives and donor-restricted scholarships.

The U.S. Treasury and IRS have proposed regulations that would deny tax-exempt status to private schools maintaining discriminatory policies based on race, color, or national origin, including affirmative action programs ruled unconstitutional in Students for Fair Admissions v. Harvard.

California's Proposition 40 would impose a one-time excise tax of up to 5 percent on billionaires' worldwide net worth, measured as of December 31, 2026, but based on residency as of January 1, 2026. The measure faces significant legal challenges and could be nullified by competing ballot initiatives that have also qualified for the November 2026 ballot.

The U.S. Treasury Department and IRS have proposed sweeping regulations that would eliminate tax-exempt status for private schools engaging in any form of racial discrimination, including race-conscious admissions and scholarship programs previously permitted under safe harbor provisions. These proposed rules would affect approximately 18,000 private educational institutions and 750,000 students...

Materials from the presentation are available to IBA members on their website.

The August 2026 Section 7520 rate remains at 5.20% for estate planning techniques. Treasury Decision 10051 targets CRAT abuse schemes as listed transactions requiring disclosure. New guidance addresses Trump Account contributions, charitable LLC arrangements face IRS scrutiny, and Florida introduces streamlined trustee discharge procedures.

In this episode of GeTin' SALTy, host Nikki Dobay is joined by two guests from MultiState Associates — Morgan Scarboro (V.P. of Tax Policy) and Ryan Maness (Director and Tax Counsel)...

Today, March 17, 2020, Treasury Secretary Steven Mnuchin announced that individuals may defer up to $1 million in 2019 tax liability without interest or penalties until July 14...

On September 9, 2019, the U.S. Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued proposed regulations1

On September 9, 2019, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) proposed regulations (proposed regulations) addressing items of income ...

What is the current outlook for North American infrastructure? Ropes & Gray attorneys explored this question at the Infrastructure Investor America Forum in New York on November 4–5, drawing...

Extradition from Japan is rare, and even more so for Japanese nationals in connection with white collar offenses. But on April 17, 2019,

Over the last weekend, major media reported that a key financial services provider, SitusAMC, suffered a substantial data security incident.

As preparations continue for the overhaul of regulatory arrangements relating to corporate reporting in the UK, the Financial Reporting Council (FRC) continues to emphasise its high expectations

In recent years, Japan has been under increasing scrutiny and pressure from the international community regarding its enforcement of its anti-corruption laws.

On October 26, 2018, the People's Republic of China (the "PRC") enacted the International Criminal Judicial Assistance Law (the "ICJAL") ...

China will launch further reforms in the pharmaceutical sector as part of the healthcare reform initiatives announced by the State Council in its February 9, 2017 Circular on Several Opinions Concerning Further Reforms of the Policies Governing Drug Production, Circulation and Usage (the "Circular No.13").

The CFDA expects all device companies to comply with the New GMP and GSP rules as long as they intend to sell the products in China.

ESMA has finalised its principles for supervising the management bodies of entities under its direct remit.

The long-awaited SFDR 2.0 has finally been published by the European Commission. It proposes a significant reset of the EU's sustainable finance disclosure framework, reshaping the current...