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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.

On Nov. 10, 2016, the Cook County Illinois Board of Commissioners adopted the Cook County Sweetened Beverage Tax Ordinance, more commonly known as the "Soda Tax" or "SBT."

On April 29, 2025, Cravath prepared a memo for its clients entitled "IRS and Treasury Publish Final Regulations for Sections 45Y and 48E Technology‑Neutral Clean Electricity Production and Investment Tax Credits."

The IRS has announced the inflation-adjusted amounts for contributions, plan deductibles and out-of-pocket expenses for health savings accounts (HSAs) for 2016.

On August 15, 2024, the Internal Revenue Service (IRS) released Announcement 2024-30, which provides a second Employee Retention Credit Voluntary Disclosure Program for employers to resolve erroneous claims.

The IRS plans to begin accepting applications for professional employer organization (PEO) certification beginning July 1, 2016.

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.

The IRS issued Rev. Proc. 2016-19, which provides procedures for taxpayers who want to submit issues for consideration under the industry issue resolution (IIR) program.

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 IRS has issued the 2012 Cumulative List of Changes in Plan Qualification Requirements (Notice 2012-76), which is intended for use by plan sponsors of Cycle C individually designed qualified retirement plans for the second submission under the remedial amendment cycle described in Rev. Proc. 2007-44.

New to the 2015 draft instructions are procedures for obtaining a 30-day extension for filing the forms with employees and the IRS, and details on how to correct paper returns.

The IRS released a private letter ruling on March 15 regarding the placed in service date for a wind farm for purposes of claiming the production tax credit and depreciation.

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

The IRS issued Rev. Proc. 2014-17, which provides taxpayers with rules for filing method changes for dispositions of tangible depreciable property.

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