Category: Tax Code, Regulations and Guidance

October 6, 2023

Governor Maura Healey signed a tax relief package into law on October 4, 2023, making changes to how the Massachusetts estate tax is calculated, as well as several changes to Massachusetts income tax laws. Estate Tax Changes The new law […]

October 5, 2023

The information you provide to your tax preparer is as sensitive as it gets. The assumption is that the tax preparation company is only using your data to prepare your taxes. In an enforcement action against Beneficial Corp., the FTC […]

October 4, 2023

On October 3, the second morning of its new term, the Supreme Court of the United States (SCOTUS) heard oral arguments in the case of Consumer Financial Protection Bureau v. Community Financial Services Association of America, Limited. This case is […]

October 2, 2023

You would be forgiven for missing the development last week amidst all the drama over a government shutdown, but the Senate Finance Committee had a long-awaited hearing last week to take up President Joe Biden’s nominee to be the IRS’s […]

September 28, 2023

On 14 September 2023, the European Commission initiated a consultation on its sustainable financial disclosure practices, seeking feedback on Regulation (EU) 2019/2088 — the Sustainable Finance Disclosure Regulation (SFDR). The consultation surveys stakeholders’ experiences during the implementation of the SFDR […]

September 26, 2023

The New York State Department of Financial Services (NYDFS) has instituted a new draft General Framework for Greenlisted Coins. This roadmap for approval of new coin listings shows how the draft guidance issued by NYDFS on Sept. 18 fits into […]

September 25, 2023

Just how much chaos could the Supreme Court toss into the tax system? The answer: Quite a bit, Pro Tax’s Brian Faler notes this morning, pointing to the upcoming arguments in the tax case known as Moore v. United States. […]

September 22, 2023

On September 14, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), the Department of State, and the Department of Commerce’s Bureau of Industry and Security (“BIS”) announced new sanctions designations and export control guidance related […]

September 18, 2023

The end of the year is closer than you think, and with that comes the possibility of an end-of year tax bill that could slide into the omnibus. Lawmakers are already gearing up to push for their favorite tax policies […]

September 8, 2023

A New York State Administrative Law Judge has ruled in favor of a New York-based securities broker-dealer on multiple issues under the New York State corporate franchise tax. The judge held the Division of Taxation (the “Division”) was required to […]

September 5, 2023

Last week FDA published an updated version of The Seafood List: FDA Guide to Determine Acceptable Seafood Names: Guidance for Industry, which is intended to be used in conjunction with FDA’s The Seafood List to determine acceptable market names (i.e., […]

August 30, 2023

On July 11, 2023, the Senate Finance Committee released an open letter to the Digital Asset Community asking a variety of questions in connection with possible future legislation. Public comments must be emailed to the Senate Finance Committee staff at […]

August 24, 2023

The White House has announced long-awaited final guidance to federal agencies to implement domestic content and manufacturing requirements in federally funded infrastructure projects. The Biden Administration guidance applies broadly to the use of iron, steel, and other common construction materials […]

August 22, 2023

Demonstrating that hospital finances and billing practices continue to be of interest to federal lawmakers, on August 7, a group of bipartisan senators sent letters to the Internal Revenue Service (IRS) and the Treasury Inspector General for Tax Administration (TIGTA) […]

August 14, 2023

The future of what tax administration and enforcement will look like in the U.S. may very well hinge on IRS appropriations battles to be fought over the next couple years in Congress. Will the agency manage an overhaul to permanently […]

August 8, 2023

On August 2, 2023, the U.S. Environmental Protection Agency’s (EPA) Office of Inspector General (OIG) released a report entitled The EPA Lacks Complete Guidance for the New Chemicals Program to Ensure Consistency and Transparency in Decisions. According to OIG, EPA’s […]

August 1, 2023

On July 13, 2023, the Washington State Department of Ecology (Ecology) published proposed amendments to Chapter 173-443 WAC, Hydrofluorocarbons (HFCs). Key provisions of the Proposed Rule include: Establishing maximum global warming potential (GWP) thresholds for HFCs used in new stationary […]

July 31, 2023

On July 20, 2023, U.S. Senators Bob Casey (D-PA) and Brian Schatz (D-HI) introduced the “No Robot Bosses Act.” Other than bringing to mind a catchy title for a dystopic science fiction novel, the bill aims to regulate the use […]

July 24, 2023

TAXES AND GLOBALISM: It’s difficult to overstate just how influential the 2024 elections will be over U.S. tax policy for years to come. Whichever party gains the most power in Congress and the White House will have the biggest say […]

July 21, 2023

On June 1, 2023, in United States v. Liberty Global, Inc.[1], the US District Court for the District of Colorado held that the US Department of Justice (DOJ) can assert and seek judgment for federal income tax deficiencies using a […]