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There is a strong market in the transferability of IRA credits. However, be careful as there could be some unexpected state tax implications.

This is, of course, only a summary and reference should be made to the actual language of the Act or the Mississippi rules, as the case may be, if more clarity is desired.

The IRS issuance of Notice 2020-17 is important first step into providing COVID-19 specific relief under Code section 7508A...

The Internal Revenue Service ("IRS") announced a new electronic filing platform for Form 15620 to make an election pursuant to Section 83(b) of the Tax Code.

President Trump's declaration of a major disaster in Florida and Georgia as a result of Hurricane Irma provides important tax relief for those residing in these states.

In a generic legal advice memorandum (GLAM) (AM 2015-002), the IRS Office of Chief Counsel addressed the proper application of the tax rate disparity test under Treas. Reg. Sec. 1.954-3(b)(1)(i)(b).

The above-the-line deduction for qualified teaching expenses was also made permanent and indexed for inflation, but will remain at $250 in 2016.

On Dec. 30, the IRS issued temporary and proposed regulations providing guidance on determining passive foreign investment company ownership and annual shareholder filing requirements.

As Louisiana heads towards a fiscal cliff, the Department of Revenue has been tasked with developing a plan to avoid the cliff and to address long called-for tax reform. Richard Nelson, Secretary of the Department...

The IRS, the Department of Labor and the Department of Health and Human Services recently issued proposed regulations (REG-132751-14) that would amend existing regulations regarding excepted benefits.

Orrick attorneys authored an article, titled "Proposed Regulations Under §385 Classifying Interests in a Corporation," addressing Section 385 regulations proposed by the Internal Revenue Service and the U.S. Treasury Department...

On May 4, 2015, Governor Charlie Baker signed into law a bill creating an early retirement incentive program for Massachusetts state employees.

Taxpayers only have five more days to submit the OVDP preclearance letter.

Had enough of the politics and drama of the presidential election? Don't tune out yet. Grant Thornton LLP has its own spin on he said, she said...

On April 26, 2017, Tennessee Governor Bill Haslam signed the "Improving Manufacturing, Public Roads and Opportunities for a Vibrant Economy (IMPROVE) Act" or the "2017 Tax Cut Act"...

The U.S. Treasury Department ("Treasury") and the Internal Revenue Service will provide guidance for taxpayers on how the new limits to the carried interest provisions under the Tax Cuts and Jobs Act will be implemented.

The legislation also updates the state's conformity to the Internal Revenue Code and revises provisions governing the state's fuel gross receipts tax and filing due dates.