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On September 13, 2018, the U.S. Department of the Treasury and Internal Revenue Service issued proposed guidance concerning how the federal tax overhaul's global minimum tax on intangible income held...

During February and March 2017, Virginia Governor Terry McAuliffe signed multiple tax bills into law that make changes to the state's income; sales; property; and business, professional...

Congress continues its heavy workload with the Thanksgiving recess roughly three weeks away.

The Massachusetts Society of CPAs (MSCPA) published an article by Matt Morris in its weekly "Friday @ Five" newsletter.

Kevin Packman and Andrea Darling de Cortés and Litigation Attorney William Shepherd co-hosted the fifth session in our International Private Client Webinar Series.

Generally, no. Most states provide procedures for forming a private foundation and receiving exemption from state income taxes.

US tax reform is changing the game with respect to many of the popular benefits employers have traditionally provided to their employees.

In this installment of Multistate Monday, our hosts, Dee Anna Hays and Susan Gorey are joined by Mike Mahoney, who chairs Ogletree's Payroll Tax and Fringe Benefits subgroup, and Melissa...

In today's economic environment, it is no secret that many states face significant budget shortfalls. In response to these circumstances, certain state treasury departments have begun to propose new income tax assessments based on transfer pricing studies that they have "outsourced" to third-party audit firms, often on contingent-fee terms.

On June 17, the U.S. Tax Court ruled that AbbVie, Inc. could deduct the fee it paid to terminate its 2014 combination agreement with Shire plc.

On July 30, 2013, the District of Columbia retroactively repealed the provision that would have subjected most tax-exempt bonds owned by D.C. residents to D.C. income tax.

In response to constrained global diesel supplies and rising fuel costs, the Treasury Department is directed to provide temporary tax relief for farmers, truckers, and other affected taxpayers. The order mandates deferral of diesel excise taxes incurred between October and December 2026, while also directing agencies to explore options for permanently forgiving these deferred obligations. Implementation requires coordination across Treasury, IRS, Agriculture, and Transportation departments to balance relief

On January 17, 2020, a federal district court in Washington ordered Microsoft Corporation ("Microsoft") to produce many documents to the Internal Revenue Service.

In a private letter ruling, the IRS approved the tax-free spinoff under Section 355 of real estate assets into a newly formed real estate investment trust.

Treasury Department and the IRS established a transfer tax safe harbor for individual donors who fund these accounts, treating qualifying contributions as completed gifts that are not gifts of future interests...

IRS Notice 2020-18, which supersedes a more restrictive Notice 2020-17, provides taxpayers with relief concerning income tax filings and payments otherwise due on April 15, 2020.

New York state tax law currently provides that a New York resident person, including a trust, that owns stock that is qualified small business stock (QSBS) under Section 1202 of the Internal Revenue Code...