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  • Article

    CDFI Fund Announces $3.5 Billion In New Market Tax Credits

    On May 23, the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) awarded 73 Community Development Entities
    United StatesTax
    Butler Snow LLP
    Butler Snow LLP
  • Article

    Chief Counsel Advice Addresses Section 902 Credits In Redemption Of CFC Foreign Shareholder

    The IRS has released Chief Counsel Advice, holding that when the earnings and profits of a controlled foreign corporation are reduced as a result of a Section 302 redemption, a corresponding reduction in the CFC’s post-1986 foreign income taxes (foreign tax pool) must also be made.
    United StatesTax
    Grant Thornton LLP
    Grant Thornton LLP
  • Article

    Connecticut And IRS Extend April 15 Income Tax Deadlines

    Prompted by the COVID-19 pandemic, the Treasury Department and the IRS announced on March 21, 2020 that the federal income tax filing due date has been automatically extended from April 15, 2020 to July 15, 2020.
    United StatesTax
    Shipman & Goodwin LLP
    Shipman & Goodwin LLP
  • Article

    Individuals Granted Profits Interests Are Treated As Partners, Not Employees

    The Internal Revenue Service issued temporary and final regulations, effective May 4, 2016, clarifying the employment tax treatment of partners in a partnership that owns a disregarded entity.
    United StatesTax
    Reed Smith
    Reed Smith
  • Article

    IRS Issues Foreign Tax Credit Guidelines Under Section 901(M)

    Treasury and the IRS intend to issue regulations addressing the application of Section 901(m) to disposition of assets following covered asset acquisitions.
    United StatesTax
    Grant Thornton LLP
    Grant Thornton LLP
  • Article

    IRS Issues Revenue Procedure 2026-6 Establishing Advance Election Process For New Education Tax Credit

    The Internal Revenue Service recently issued Revenue Procedure 2026-6, which provides procedural guidance allowing States to make an Advance Election to participate...
    United StatesTax
    Liskow
    Liskow
  • Article

    IRS Provides Guidance On Signing Of POAs For Certain LLCs

    The IRS ruled in a chief council advice memorandum (CCA 2015-22-005) that a corporate officer of a common parent of a consolidated group must sign Form 2848...
    United StatesTax
    Grant Thornton LLP
    Grant Thornton LLP
  • Article

    New Cancellation Of Indebtedness Rules

    The recently enacted American Recovery and Reinvestment Tax Act contains new rules for cancellation of indebtedness ("COD") income, which could be of major importance for you.
    United StatesTax
    Cozen O'Connor
    Cozen O'Connor
  • Article

    New IRS Guidance Takes Restrictive View Of Material Participation By Non-Grantor Trusts

    Recently published Technical Advice Memorandum 201317010 limits the circumstances in which a complex, non-grantor trust can materially participate in the activities of an S corporation.
    United StatesTax
    Barnes & Thornburg LLP
    Barnes & Thornburg LLP
  • Article

    Tax Changes Under The Ohio Fiscal Year 2022-23 Budget Bill

    Ohio Governor Mike DeWine recently signed the fiscal year 2022-23 budget bill, which contains several tax provisions and changes that will affect businesses and their owners.
    United StatesTax
    Dickinson Wright PLLC
    Dickinson Wright PLLC
  • Article

    U.S. And India Reach Agreement On Digital Services Taxes

    On November 24, 2021, the Office of the U.S. Trade Representative (USTR) announced that the United States and India reached an agreement regarding the treatment of Digital Services Taxes (DSTs).
    United StatesTax
    Thompson Hine LLP
    Thompson Hine LLP
  • Article

    Weinstein And Taylor Examine Tax Valuations Of Cultural Objects Subject To New NAGPRA Regulations

    Partner Taylor Weinstein, a member of the Tax and Investment Management Groups, and Associate Olivia Taylor, a member of the Art Law Group, co-authored the article "NAGPRA Regulations Prompt Valuation...
    United StatesTax
    Pryor Cashman LLP
    Pryor Cashman LLP
  • Article

    Year-End Tax Planning And Scholarship Tax Credits

    The Alabama Accountability Act of 2013 provides state income tax credits to certain donors who make contributions to a qualified scholarship granting organization operating within Alabama...
    United StatesTax
    Bradley Arant Boult Cummings LLP
    Bradley Arant Boult Cummings LLP
  • Article

    Plan Now For U.S. Estate Tax Changes

    Miami Shareholder Scott J. Bakal authored an Op-Ed for Israel's economic journal Globes.
    GlobalTax
    Greenberg Traurig
    Greenberg Traurig
  • Article

    Beware: Active Participation Of Trustee S-Corporation Shareholder Is Required – Technical Advice Memorandum 201317010

    Differing points of view have arisen regarding determining the active participation of S-Corporation shareholdings held in Trust.
    United StatesCorporate/Commercial Law
    BakerHostetler
    BakerHostetler
  • Article

    IRS Rules Retention Arrangement Violates 409A

    In a Chief Counsel Memorandum issued last month, the IRS concluded that an executive retention arrangement violated Section 409A despite the employer's efforts to correct the arrangement before the retention bonus vested.
    United StatesCorporate/Commercial Law
    McGuireWoods LLP
    McGuireWoods LLP
  • Article

    Permanency Of The IRA Charitable Rollover Is Good News For Donors!

    The Protecting Americans from Tax Hikes (PATH) Act of 2015, which was passed by Congress and signed by President Obama in December 2015, permanently extended three charitable giving incentives...
    United StatesCorporate/Commercial Law
    Day Pitney LLP
    Day Pitney LLP
  • Article

    Section 409A: Arrangements That Require Execution Of A Release As A Condition To Severance May Require Action By Dec. 31, 2012

    Section 409A requires that nonqualified deferred compensation plans comply with certain distribution election and timing of payment requirements.
    United StatesCorporate/Commercial Law
    Barnes & Thornburg LLP
    Barnes & Thornburg LLP
  • Article

    New Publications 502 And 503 Released By IRS

    The Internal Revenue Service has recently released the latest versions of its Publications 502 and 503.
    United StatesEmployment and HR
    McDermott Will & Emery
    McDermott Will & Emery
  • Article

    New York Issues Guidance Regarding The Tax Impact Of New York Same-Sex Marriage Law

    As we anticipated in a previous post, the New York State Department of Finance and Taxation ("Department") has issued guidance concerning the state tax impacts of the Marriage Equality Act ("Act") on employees and employers.
    United StatesEmployment and HR
    Day Pitney LLP
    Day Pitney LLP
  • Showing 561–580 of 8619 results

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