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In the aftermath of the Third Circuit Court of Appeals reversal of the lower Tax Court decision of the Historic Boardwalk case while industrial investments in the Federal historic tax credits continue the Historic Tax Credit industry has been waiting from promised guidance by the Internal Revenue Service (the "IRS") in the form of a Revenue Procedure.

Starting January 1, 2026, many provisions of the 2017 Tax Cuts and Jobs Act ("TCJA") are set to expire. Among the most significant provisions set to sunset is the increased...

As Congress considers tax reform and infrastructure financing, a bipartisan group of more than 150 Representatives requested that the House Committee on Ways & Means recognize...

Under the House's current draft budget bill, which was released on May 15, 2025, the 1.4% excise tax on private universities' net investment income would increase up to 21%, effectively negating one of the main benefits of tax-exempt status.

The House voted to make three expired provisions permanent last week as part of the slow-moving legislative process.

Implications Of Tax Reform On Tax-Exempt Organizations

This is the third installment of a series that takes an inside look at the corporate tax reform proposals in Governor Andrew Cuomo’s 2014–15 New York Budget Bill.

On Sept. 1, 2010, the IRS released Announcement 2010-54 to solicit applications from cooperative electric companies (cooperatives) for $190,795,445 of New Clean Renewable Energy Bond (New CREBs) volume cap.

The Internal Revenue Service has ended its year-long moratorium on issuing MLP qualifying income rulings under Section 7704 of the tax code.

The IRS recently released guidance acquiescing to the Ninth Circuit's opinion that unmarried domestic partners are each individually entitled to deduct interest on up to $1,000,000 of home acquisition debt...

In November 2012, the IRS and the Treasury Department announced they had accepted a request from the National Retail Federation and Retail Industry Leaders Association for guidance under the IRS’s Industry Issue Resolution program regarding capitalization versus repair issues.

The Internal Revenue Service and the U.S. Treasury Department scheduled a public hearing to discuss proposed regulations under section 385 of the Internal Revenue Code.

The IRS has announced the inflation-adjusted amounts for contributions, plan deductibles and out-of-pocket expenses for health savings accounts (HSAs) for 2013.

As I discussed in a prior blog post, if you have more than $10,000 in a foreign bank account, you are obligated to file Form 114 (commonly known as an FBAR).

Under the Affordable Care Act, insurance companies and employers must pay an annual fee to help fund the Patient-Centered Outcomes Research Institute.

The IRS announced recently that it will not impose penalties under Section 6721 or Section 6722, which are related to information reporting, on eligible educational institutions with respect to Form 1098-T...

In response, the IRS released final regulations on June 11 designed to prohibit taxpayers from circumventing this type of SALT limitation.