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House Ways and Means Committee member Vern Buchanan, R-Fla, released H.R. 5076, the "Main Street Fairness Act," which would provide a legislative framework for the business equivalency rate that Grant Thornton LLP has long championed.

The codified economic substance doctrine in Section 7701(o) is generally not implicated in corporate freeze transactions.

This month’s newsletter features articles about the agreement between Switzerland and the United States to permit some Swiss banks to participate in a settlement program and avoid criminal prosecution over accounts maintained by US taxpayers

Implications Of Tax Reform On Tax-Exempt Organizations

The Worker, Homeownership, and Business Assistance Act of 2009 (the "Act") signed today by President Obama allows corporate taxpayers with net operating losses ("NOLs") in 2008 or 2009 to elect to carry back such NOLs up to five years.

Article from Waller Law.

In remarks following the G20 Finance Ministers and Central Bank Governors meetings, Secretary of the Treasury Janet L. Yellen stated that 132 countries are coming to a consensus around a global corporate minimum tax rate of at least 15 percent.

Early Saturday morning, the U.S. Senate passed tax reform along party lines, by a vote of 51 to 49. The Senate version of tax reform includes a 20 percent corporate rate, rate cuts for individuals ...

On November 2, 2017, the US House of Representatives Committee on Ways and Means released long-awaited draft legislation on federal tax reform.

Senate Finance Committee ranking minority member Ron Wyden, D-Ore., has added tax professor Victor Fleischer to his tax-writing committee staff.

On the weekend of June 5, 2021, news broke that Members of the G7 are aligned in implementing a global minimum tax rate, and that their respective treasuries will support a broader international effort to adopt proposed reforms.

However, the ownership of S stock by an exempt organization may result in either an unexpected tax burden or a liability rather than an asset for the charity.

In the May 10, 2017 dialogue held by the SEC's Division of Economic and Risk Analysis and New York University's Stern School of Business, academics and industry representatives provided...

Last week, House Republicans released an initial draft of their tax reform bill, the Tax Cuts and Jobs Act...

In a previous post and recent podcast, we discussed that uncertainty exists with respect to the prevailing standards for determining real estate tax exemptions for nonprofits in Pennsylvania.

Federal agencies are granting businesses some leeway in the wake of Hurricane Sandy.

IRS and DOL each have a stake in preventing the misclassification of workers as independent contractors, rather than employees.