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Category: Tax Code, Regulations and Guidance


Tax Code, Regulations and Guidance

US Treasury Department Releases Proposed Section 45V Hydrogen Tax Credit Regulations

December 29, 2023

Via: National Law Review

On 22 December 2023, the US Treasury Department (Treasury) released the highly anticipated Proposed Regulations relating to the Clean Hydrogen Production Credit (hydrogen credit) under the US Internal Revenue Code of 1986, as amended (the Code),1 Section 45V (Proposed Regulations).2 […]


Tax Code, Regulations and Guidance

The Nonprofit Sector Need Not Apply: The Corporate Transparency Act and its Tax-Exempt Organization Exemptions

December 27, 2023

Via: National Law Review

ArentFox Schiff’s clients report being inundated with notices from registered agents and other service providers to comply with the Corporate Transparency Act (CTA), a new law that will require many existing and newly formed entities to register with and disclose […]


Tax Code, Regulations and Guidance

The Not-So-Wild West of AI Regulation

December 26, 2023

Via: National Law Review

Over the past year, we have seen the various agencies and branches of government issue a slew of rules, guidance, and directives over the use (and misuse) of Artificial Intelligence (AI). In May, the EEOC issued guidance on the use […]


Tax Code, Regulations and Guidance

FDA Launches Cosmetics Direct and Issues Final Guidance on Facility Registration & Product Listings Required under MoCRA

December 21, 2023

Via: LexBlog

On December 18, 2023, the U.S. Food and Drug Administration (FDA) launched Cosmetics Direct, the electronic submission portal for facility registration and product listing required under the Modernization of Cosmetics Regulation Act of 2022 (MoCRA) and published a User Guide […]


Tax Code, Regulations and Guidance

New York City Law Revives Expired Claims for Sexual Assault through March 25, 2025

December 20, 2023

Via: National Law Review

Survivors of gender-motivated violence that occurred in New York City have until March 25, 2025, to file claims that previously expired under the lookback window created in the New York City Victims of Gender-Motivated Violence Protection Law (the “Protection Law”). […]


Tax Code, Regulations and Guidance

FDA Issues Final Guidance Document on MoCRA Requirements for Cosmetic Facility Registration and Cosmetic Product Listing, Also Opens Electronic Portal for Submissions

December 19, 2023

Via: National Law Review

On December 18, 2023, the U.S. Food and Drug Administration (FDA) made two announcements concerning the cosmetic facility registration and cosmetic product listing requirements under the Modernization of Cosmetics Regulation Act of 2022 (MoCRA). First, the Agency launched its “Cosmetics […]


Tax Code, Regulations and Guidance

Significant Tax Law Changes in Germany: Year-End Status

December 18, 2023

Via: JD Supra

Due to delays, in particular as a result of the ruling by the Federal Constitutional Court (BVerfG) of November 15, 2023, selected tax changes are now to be included in the Act on the Promotion of Orderly Secondary Credit Markets […]


Tax Code, Regulations and Guidance

Update on Tower Health’s Chester and Montgomery County Real Estate Tax Exemption Appeals

December 14, 2023

Via: LexBlog

On October 16, 2023, the Pennsylvania Supreme Court granted Tower Health’s Petition for Allowance of Appeal related to the Montgomery County hospital property. The Supreme Court is going to address the following two issues on appeal: Whether the Commonwealth Court […]


Tax Code, Regulations and Guidance

FTC Publishes CARS Rule Regulating Motor Vehicle Dealer Sales Practices

December 13, 2023

Via: LexBlog

On December 12, the Federal Trade Commission (FTC) published the long-awaited regulation specific to motor vehicle dealers to address concerns of consumer deception in the sales process (Final Rule). We covered the proposed rule, introduced in June 2022, in a […]


Business Law & Regulations, Tax Code, Regulations and Guidance

Biden administration issues long-awaited EV tax credit FEOC guidance

December 12, 2023

Via: JD Supra

On Friday, December 1, 2023, the U.S. Department of Energy (DOE) and U.S. Department of Treasury concurrently released two long-anticipated Notices of Proposed Rulemakings regarding the “Foreign Entity of Concern” (FEOC) exclusion—a key provision relevant to electric (EVs) and other […]


Tax Code, Regulations and Guidance

The bullish case for a tax bill

December 11, 2023

Via: POLITICO

Former House Ways and Means Chair Dave Camp definitely has experience when it comes to year-end tax negotiations — and now he’s got some insight on the current set of talks that have sparked so much interest in D.C. tax […]


Tax Code, Regulations and Guidance

European Union Moves to Regulate AI: Passes New Act To Limit Its Uses

December 8, 2023

Via: LexBlog

Adam Satariano of the New York Times reports this evening that European Union policymakers have agreed on a new law, the A.I. Act, to regulate artificial intelligence, making it one of the world’s first comprehensive laws on AI. While the […]


Tax Code, Regulations and Guidance

What to Expect in Evolving U.S. Regulation of Artificial Intelligence in 2024

December 7, 2023

Via: National Law Review

While consensus on the precise approach to artificial intelligence (AI) regulation in the U.S. remains elusive, canaries in the coal mine are calling for more comprehensive federal regulation and legislation, mainly to protect privacy. Some states have taken the lead […]


Tax Code, Regulations and Guidance

Private Equity and Hedge Funds Take Note: The Tax Court Says Limited Partners Must Pay Self-Employment Taxes

December 6, 2023

Via: National Law Review

In a decision that will come as potentially bad news to many private equity and hedge funds, on November 28, 2023, the U. S. Tax Court opined in Soroban Capital Partners LP versus Comm’r that limited partners in a limited […]


Tax Code, Regulations and Guidance

EU cyber regulation wave quietly rolls on – Commission set to finalize new cyber standards

December 5, 2023

Via: LexBlog

The recently agreed Cyber Resilience Act isn’t the only new EU cybersecurity rule set to be published this December: by the end of the year, the European Commission is expected to adopt its draft regulations to establish a European cybersecurity […]


Tax Code, Regulations and Guidance

Artificial Intelligence at the White House and on the Hill: A look at implications for health care

November 28, 2023

Via: LexBlog

Recent efforts by the federal government to develop a strategy for guiding (and regulating) the use of artificial intelligence (AI) have targeted multiple industry sectors, with healthcare at the forefront. For example, under the President’s recent executive order, in 2024 […]


Tax Code, Regulations and Guidance

Speaking out on a would-be tax deal

November 20, 2023

Via: POLITICO

TAKING STOCK OF A TAX DEAL (AGAIN): It’s almost like the tax policy version of “if a tree falls in the woods and no one is around to hear it, does it make a sound?” Think of it as “can […]


Tax Code, Regulations and Guidance

IRS Increases 2024 Federal Estate Tax Exemption and Gift Tax Exclusions: Key Points for Taxpayers

November 20, 2023

Via: JD Supra

Estate planning is a lot like putting together a puzzle. The client provides you with their box lid showing what they want the ultimate result of their plan to look like. Then, estate planners are tasked to identify and gather […]


Tax Code, Regulations and Guidance

IRS Announced 2024 COL Adjustments for Estate, Gift Tax Exclusion Amounts

November 17, 2023

Via: National Law Review

The Internal Revenue Service recently announced the 2024 cost of living adjustments for the estate and gift tax exclusion amounts. Gift Tax Exclusion Amount The Gift Tax Exclusion Amount is the amount an individual may gift to any number of […]


Tax Code, Regulations and Guidance

10 Things You Should Know About the EU Artificial Intelligence Act

November 16, 2023

Via: LexBlog

The Artificial Intelligence Act (AI Act) is the first comprehensive legislation that intends to regulate AI horizontally across all sectors in Europe. It will have far reaching consequences on all companies developing, implementing, or using AI solutions in the EU […]