When a U.S.-based cash-basis law firm receives a contingency fee, the fee generally is subject to U.S. federal income taxation in the year the settlement occurs and the fee is paid out...

We would like to report several recent developments of note to tax-exempt organizations.

As we all work to navigate the vast changes to business and personal life during the COVID-19 pandemic, there are a number of state tax issues to consider while preparing for future reporting requirements and state legislative action.

Puerto Rico's unique status as a US territory impacts its decision-making on the OECD's global minimum tax, known as Pillar Two. If implemented in its proposed form...

Less than six months remain until the regulations implementing the beneficial ownership reporting requirements prescribed by the Corporate Transparency Act become effective on January 1, 2024.

Amid high-profile cases involving the Foreign Agents Registration Act ("FARA"), some Members of Congress have expressed increased interest in improving transparency and enforcement of FARA.

On June 24, 2013, the Internal Revenue Service issued a report titled "Charting a Path Forward at the IRS: Initial Assessment and Plan of Action."

On March 27, the Coronavirus Aid, Relief, and Economic Security ("CARES") Act was signed into law.

Domestic corporations that earn foreign-derived intangible income ("FDII") or global intangible low-taxed income ("GILTI") should be aware that final regulations published on July 15, 2020

On August 2, 2011, the recent amendments to Treasury Department Circular No. 230 will take effect. Every subpart - authority to practice, practice before the IRS, disciplinary proceedings, sanctions, and general provisions - will be affected.

On July 20, 2020 Treasury released final regulations (the "2020 Final Regulations") allowing U.S. Shareholders of controlled foreign corporations ("CFCs")

Recent IRS efforts have provoked renewed discussion of the legal regimes governing nonqualified deferred compensation plans.

The U.S. Government Accountability Office has recently released its highly anticipated report on the so-called "political intelligence" industry.

Effective January 1, 2021, New York requires 501(c)(3) and 501(c)(4) organizations to file certain additional disclosures with the New York Department of State.

Peter Barnes co-wrote the May 22, 2023 letter "No Time for Waiting" for Tax Notes Today International. Below is the entire letter. Please visit this link to view the letter as it appears in Tax Notes Today International.

In late March, as a direct response to the COVID-19 crisis, the Internal Revenue Service created new programs and extended tax filing and payment deadlines to ease the burden on taxpayers.

On November 19, the Treasury Department and the Internal Revenue Service released their 2012-2013 Priority Guidance Plan ("PGP"), which lists the 317 guidance projects that will be priorities for the allocation of resources during the fiscal year ending in June 2013.

On February 10, 2014, the IRS issued final regulations on the employer shared responsibility provisions of the Patient Protection and Affordable Care Act of 2010, as amended.

In November 2009, the Internal Revenue Service (IRS) announced that it will begin its first Employment Tax National Research Project in 25 years.

On March 27, the Coronavirus Aid, Relief, and Economic Security ("CARES") Act was signed into law.