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Category: Tax Code, Regulations and Guidance


Tax Code, Regulations and Guidance

Dual Rate Income Tax

September 21, 2022

Via: Investopedia

What is a Dual Rate Income Tax A dual rate income tax is an income tax rate structure in which two different tax rates are charged depending on income levels. Breaking Down Dual Rate Income Tax With dual rate income […]


Tax Code, Regulations and Guidance

IRS Publication 970: Tax Benefits for Education Definition

September 20, 2022

Via: Investopedia

IRS Publication 970 is a document published by the Internal Revenue Service (IRS) that provides information on tax benefits available to students and families saving or paying for college. It explains the tax treatment for the most common forms of […]


Tax Code, Regulations and Guidance

Biden Administration Issues Executive Order Defining Additional National Security Considerations for CFIUS

September 16, 2022

Via: LexBlog

On September 15, President Biden signed an Executive Order (EO) with the first ever formal Presidential direction to the Committee on Foreign Investment in the United States (CFIUS or the Committee). The EO emphasizes the risks that the Committee should […]


Tax Code, Regulations and Guidance

Sanctions/Export Highlights [As of September 15, 2022]

September 16, 2022

Via: LexBlog

Sanctions Designations: U.S. Designates Numerous Individuals and Entities: On September 15, 2022, the U.S. added a number of individuals and entities to the Specially Designated Nationals and Blocked Persons (“SDN”) List. The sanctions target Russia’s financial system, including the heads […]


Tax Code, Regulations and Guidance

What Is Cybersecurity Insurance for Law Firms?

September 14, 2022

Via: National Law Review

As legal technology becomes more commonplace across the industry, legal clients expect their attorneys and law firms to not only have modern resources, but robust measures in place to protect their information. With cyber threats on the rise, it’s crucial […]


Tax Code, Regulations and Guidance

Clean Hydrogen Tax Benefits Under the Inflation Reduction Act

September 9, 2022

Via: National Law Review

On August 22, 2022, US President Joe Biden signed the Inflation Reduction Act of 2022 (the Act) into law, which includes $369 billion in energy and climate spending with an unprecedented focus on clean hydrogen. Specifically, the Act introduces a […]


Tax Code, Regulations and Guidance

Ninth Circuit Provides New Guidance For Defining Protected Speech Under the First Amendment And The Permissible Scope Of Social Media Policies

August 23, 2022

Via: LexBlog

Social media sites have become the new “public square” where individuals share opinions and information about all types of political and societal events. Public sector employees, as much as anyone else, use social media to post viewpoints and to participate […]


Tax Code, Regulations and Guidance

California Poised to Expand Pay Transparency, Reporting Obligations

August 18, 2022

Via: SHRM

A bill to increase pay transparency in California steps closer to becoming law. California Senate Bill 1162, introduced in February and with some amendments since its initial form, passed the Assembly Appropriations Committee on August 11. Only a few steps […]


Tax Code, Regulations and Guidance

Washington, D.C. Finalizes Amendments to Law on Non-Compete Agreements

August 17, 2022

Via: SHRM

The Washington, D.C. City Council passed a broad ban on noncompete agreements in December 2020, but it decided in March 2022 that amendments were needed to address questions raised by the business community. The D.C. Non-Compete Clarification Amendment Act of […]


Tax Code, Regulations and Guidance

The Inflation Reduction Act – Key Tax Considerations

August 17, 2022

Via: National Law Review

On Aug. 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (IRA). The key revenue-raising provisions under the IRA include: a 15% Corporate Alternative Minimum Tax imposed on certain large corporations (expected to raise $222 billion […]


Tax Code, Regulations and Guidance

Inflation Reduction Act Signed Into Law, Committing $370 Billion to Action on Climate and Energy

August 16, 2022

Via: National Law Review

On August 16, 2022, President Biden signed the Inflation Reduction Act (IRA) into law. The IRA includes a host of programs aimed at addressing climate change and energy production. These include, for example, major new or expanded funding to reduce […]


Tax Code, Regulations and Guidance

President Biden To Sign New Inflation Reduction Act

August 15, 2022

Via: LexBlog

President Biden will soon sign into law the Inflation Reduction Act (IRA), which provides $750 billion in funding and major federal policy changes impacting the U.S. energy, environment, healthcare and tax sectors. On August 7, 2022, the IRA passed the […]


Tax Code, Regulations and Guidance

Tax Treatment of Carried Interests Not Likely to Change This Year

August 11, 2022

Via: JD Supra

Gilbert and Sullivan’s Mikado tells the story of Ko-Ko, a tailor and guardian of a beautiful young woman named Yum-Yum, who also is Ko-Ko’s fiancée. Ko-Ko was sentenced to death for flirting but avoided his sentence by getting himself named […]


Tax Code, Regulations and Guidance

Tax Court in Brief | Whistleblower 769-16W v. Comm’r | Can the Tax Court divest itself of jurisdiction over a whistleblower proceeding?

August 11, 2022

Via: JD Supra

Freeman Law’s “The Tax Court in Brief” covers every substantive Tax Court opinion, providing a weekly brief of its decisions in clear, concise prose. For a link to our podcast covering the Tax Court in Brief, download here or check […]


Tax Code, Regulations and Guidance

A Summary of Inflation Reduction Act’s Main Energy Tax Proposals

August 8, 2022

Via: LexBlog

On August 7, the Senate passed the Inflation Reduction Act of 2022 (the “IRA”). The IRA contains a significant number of climate and energy tax proposals, many of which were previously proposed in substantially similar form by the House of […]


Tax Code, Regulations and Guidance

NYDFS Announces Draft Amendments to Cybersecurity Regulation

August 5, 2022

Via: LexBlog

On July 29, 2022, the New York Department of Financial Services (“NYDFS”) released Draft Amendments to its Cyber Security Regulations. The Amendments, if adopted, would further regulatory trends and impose important new requirements on covered entities. The Amendments contain three […]


Tax Code, Regulations and Guidance

Inflation Reduction Act Includes Expansive Tax Incentives for Clean Energy Investors and Developers

August 3, 2022

Via: National Law Review

On July 27, 2022, Senator Joe Manchin and Senate Majority Leader Chuck Schumer reached an agreement on a budget reconciliation bill and released the “Inflation Reduction Act of 2022” (the “Act”). A significant part of the Act focuses on energy […]


Tax Code, Regulations and Guidance

IRS Guidance Extends Deadline for SECURE & CARES Act Amendments

August 3, 2022

Via: National Law Review

On August 3, 2022, in a welcome and surprising move, the IRS released Notice 2022-33, providing for an extension for qualified retirement plans to adopt amendments under the Setting Every Community Up for Retirement Enhancement Act of 2019 (“SECURE Act”), […]


Tax Code, Regulations and Guidance

Warren Buffett Hates This Tax Break — And Some of It Is on the Chopping Block

August 2, 2022

Via: Entrepreneur

Carried interest, a current tax break that can potentially impact startups, private equity, and the venture capital community, is back on the national legislative stage in a new bill titled, The Inflation Reduction Act of 2022. The bill has a […]


Tax Code, Regulations and Guidance

Expensing and loopholes: Gaming out what’s next for the Democrats’ tax plans

August 1, 2022

Via: POLITICO

THERE’S THAT WORD AGAIN: Sen. Joe Manchin (D-W.Va.) had a clear message while making the Sunday show rounds — the new corporate minimum tax isn’t raising taxes, really. Instead, it’s just closing a loophole that allows big corporations to pay […]