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Senate Finance Committee Chair Orrin Hatch, R-Utah, acknowledged last week that his corporate integration proposal is running into difficulties that will postpone its release until at least May.

Historic Rehabilitation Tax Credit And Other Tax Credit Incentive Structures In Limbo Awaiting IRS Guidance

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.

Islame Hosny, an associate in Pryor Cashman's Tax Group, wrote an article, "Qualified Opportunity Zones: A Critical Tax Analysis of the Capital Gain Requirement," that appears in the Spring 2023 issue of the Rutgers Business Law Review.

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...

House Republican leaders said they hope to bring a bill repealing the estate tax (H.R. 1105) to the House floor for a vote the week of April 13.

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.

Two months after our oral argument, the Appellate Court of Illinois on October 7th reversed a Circuit Court decision and held that Wendy's International did not have to include its insurance subsidiary in its Illinois combined income tax returns.

The Illinois Department of Revenue (Department) announced that it will grant abatement of late filing penalties for taxpayers that file their Illinois business income tax returns...

Implications Of Tax Reform On Tax-Exempt Organizations

House Ways and Means Committee Chair Dave Camp held a hearing on April 8 to discuss seven of more than 50 tax provisions that expired at the end of 2013.

As previously reported by Ropes & Gray, on July 24, 2018, the Ninth Circuit reversed the Tax Court's prior decision in the Altera case and upheld the IRS regulation requiring the allocation...

In 2017, Congress passed the Tax Cuts and Jobs Act, which—among other things—placed a $10,000 annual limit on state and local tax (SALT) deductions for federal income tax purposes.

On July 11, 2017, the Indiana Tax Court held that the Indiana Department of Revenue erred in reclassifying a corporation's gain on a 2001 sale of a subsidiary from nonbusiness income to business income.

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.