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After a contentious 12-year battle with the California Franchise Tax Board, culminating with a lopsided victory at trial, Reed Smith has now achieved total vindication for Orange County real estate entrepreneur Ron Lane in Daniel V, Inc. v. Franchise Tax Board.

The Senate Permanent Subcommittee on Investigations held another hearing on multinational corporations that shift their profits out of the U.S.

In addition to expanding lending to small businesses, the Small Business Jobs Act ("SBJA"), effective September 27, 2010, also includes several tax provisions which aim to encourage investment, promote entrepreneurship and provide small business relief.

The due date for filing the required information return for a tax-exempt organization is just around the corner. Returns for the 2010 calendar taxable year are due May 15, 2011 unless an organization files a request for extension.

The Department of the Treasury and the Internal Revenue Service have issued final regulations addressing reporting obligations for certain tax-free exchanges of life insurance contracts under Internal Revenue Code...

Proposed regulations issued on July 14, 2016 generally would prevent tax-free spinoffs involving companies with less than 5% active business assets and spinoffs...

In his recent State of the Union address, President Obama proposed expanding a program that encourages state and local governments to fund infrastructure projects through public-private partnerships (or P3s).

In a late-breaking stunning victory for corporate taxpayers, at a public hearing yesterday Maryland General Assembly’s Joint Committee on Administrative, Executive, and Legislative Review (“AELR”) extended the due date for Maryland’s new corporate income tax information reporting requirements for an additional 45 days.

On October 26, Governor Tom Corbett (R-PA) signed into law the Promoting Employment Across Pennsylvania Act (PEP) (House Bill 2626).

In our inaugural Wealth Management newsletter in February, 2017, we analyzed the President's campaign platform and made predictions about the President's legislative agenda.

We previously reported that the Minnesota Legislature was considering imposing mandatory worldwide combined reporting through an omnibus tax bill. Subsequent to our report and in the face of numerous...

The Tax Cuts and Jobs Act was passed by both chambers of Congress on Wednesday, December 20, 2017, and will be sent to the President's desk for final signature.

Developers of multi-family apartment complexes geared to low- to moderate-income tenants are increasingly taking advantage of federal low-income housing tax credits (LIHTC) and, where available, their state counterparts, to finance such developments.

Two economists said last week that the presidential campaign of Republican nominee Donald Trump has asked them to revise Trump's tax plan to slash the cost.

The IRS Large Business and International (LB&I) Division has announced that it will not treat certain activities as manufacturing, producing, growing or extracting (MPGE)...

The IRS has released a private letter ruling extending the time for a corporation to elect safe harbor treatment under Rev. Proc. 2011-29 for a success-based transaction fee.

Once effective, the proposed rules are likely to cover both existing and future entities

While the IRS has not released official guidance on the changes, several senior LB&I officials have offered remarks publicly on the restructuring.