Tag: tax

November 20, 2023

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 […]

November 20, 2023

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 […]

November 13, 2023

A bipartisan crew of House members is urging the Treasury Department to give businesses a further break on new Foreign Tax Credit regulations. Treasury announced back in July that they were giving taxpayers a two-year reprieve from those rules, which […]

November 10, 2023

As the U.S. transitions from the acute phase of COVID-19, the lasting impact of changes ushered in by the pandemic is becoming clear, most notably the shift toward remote work. While no longer a necessity, remote work remains extremely popular, […]

November 8, 2023

In addition to Washington’s real estate excise tax (REET), transferors of ownership interests in entities that own real property in Washington must also factor in Washington’s capital gains tax when making such transfers. The Washington Supreme Court upheld the capital […]

October 31, 2023

A Los Angeles County superior court judge dismissed a lawsuit that sought to invalidate Measure ULA, also called the mansion tax. Measure ULA, which took effect in April 2023, significantly increased documentary transfer tax on all real estate sales or […]

October 26, 2023

This past summer, the Treasury and Internal Revenue Service (IRS) published proposed Treasury Regulations (88 FR 40528 and 88 FR 40496) under two key provisions of the Inflation Reduction Act of 2022 (IRA) designed to enable taxpayers and tax-exempt entities […]

October 24, 2023

On October 19, 2023, the Consumer Financial Protection Bureau (CFPB) announced its long-awaited proposed rule regulating “Personal Financial Data Rights” (the proposed rule). The proposed rule implements Section 1033 of the Dodd-Frank Act, which provides consumers the right to access […]

October 23, 2023

WHAT KIND OF MONEY WE TALKING ABOUT? One of the questions still hanging over the global tax deal is what kind of impact it might have on the bottom line for the Treasury, and for American companies. Republicans in Congress […]

October 17, 2023

The Inflation Reduction Act of 2022 (IRA) incentivizes clean energy jobs by incorporating labor requirements and promoting workforce development within the United States. The IRA introduced proposed regulations (REG-100908-23) and frequently asked questions with guidance on how taxpayers can document […]

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 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 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 […]

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 2, 2023

In a much anticipated (yet thoroughly unsurprising) decision, on August 2, 2023, the National Labor Relations Board (NLRB or Board) again reversed precedent, crafting a what’s-old-is-new-again standard for evaluating – and easily invalidating – employer work rules. The long and […]

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 […]

July 19, 2023

In a recent article by Tax Notes, tax experts expressed their concerns and hopes for the influx of funding granted to the IRS via the Inflation Reduction Act. Gray Reed Partner Joshua Smeltzer was one of the experts interviewed. Board […]