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Tag: tax


Tax Code, Regulations and Guidance

Claiming Inflation Reduction Act Tax Credits and Deductions on Your 2024 Return? Make Sure You Complied with the Prevailing Wage and Apprenticeship Requirements

March 18, 2024

Via: LexBlog

Tax season is here. As a result, many companies may be seeking to claim the increased tax credits and deductions available under the Inflation Reduction Act (the “IRA”). As we discussed in previous posts you can read here and here, […]


Tax Code, Regulations and Guidance

Live Local Act ‘Glitch Bill’ Highlights Property Tax Exemption Risk

March 7, 2024

Via: National Law Review

On Feb. 28, 2024, the Florida Legislature passed Senate Bill (SB) 328, the Live Local Act “glitch bill,” amending and clarifying 2023’s Live Local Act affordable housing law,1 and the bill is on its way to Gov. DeSantis’ desk for […]


Business Law & Regulations, Workplace Safety & Health

Workplace Reform Rolls on… Again

February 26, 2024

Via: JD Supra

The Federal Labor Government (Government) has completed its third tranche of workplace relations reform with the recent passage through Federal Parliament of its Fair Work Legislation Amendment (Closing Loopholes No. 2) Bill 2023. Along with its ‘Secure Jobs, Better Pay’ […]


Tax Code, Regulations and Guidance

US Treasury Says IRS is Focused on Tax Evasion Targeting

February 26, 2024

Via: JD Supra

The US Department of the Treasury has recently reinforced the progress on enforcement, specifically how the IRS is focused on tax evasion targeting and the targeting of high-income individuals and entities. The IRS has deployed Artificial Intelligence (AI) and state-of-the-art […]


Tax Code, Regulations and Guidance

Tax Bill Expected to Spur Affordable Housing Development

February 2, 2024

Via: JD Supra

The U.S. House of Representatives overwhelmingly passed legislation this week that is predicted to finance hundreds of thousands of affordable housing units, helping New York City and state housing agencies struggling to meet demand. The $78 billion Tax Relief for […]


Tax Code, Regulations and Guidance

Tax vote this week? Uncertain. Filing season open? Definitely

January 29, 2024

Via: POLITICO

The House returns to Washington today, after a week away — and, no, it’s not clear whether the chamber will vote on the bipartisan tax bill in the coming days. The official House schedule still has the measure that would […]


Tax Code, Regulations and Guidance

Bonus Tax Rate: What It Is, How It’s Calculated & Tips to Lower It

January 25, 2024

Via: Fit Small Business

Similar to salaries, employee bonuses are subject to taxes—specifically, a bonus tax rate, which is typically a flat rate of 22%. This can change depending on the amount of the bonus and the method used to calculate the applicable bonus […]


Tax Code, Regulations and Guidance

Tax bill passes committee, so now what?

January 22, 2024

Via: POLITICO

Supporters of the bipartisan tax bill needed a statement vote out of the House Ways and Means Committee on Friday to help their cause — and they sure got one. Only three of the committee’s 43 members voted against the […]


Tax Code, Regulations and Guidance

Brazilian IRS Clarifies Taxation of Credits Originated from a Court Decision

January 9, 2024

Via: JD Supra

On December 19, 2023, the Brazilian IRS published COSIT Answer to Advance Tax Ruling Request No. 308/2023 to clarify the Federal Tax Administration’s position regarding the levy of IRPJ, CSLL, PIS and COFINS on credits accrued from a court decision […]


Tax Code, Regulations and Guidance

A new year to talk about a tax bill

January 2, 2024

Via: POLITICO

Let’s be honest — negotiations over a tax bill are essentially in the same spot they were when lawmakers hightailed it out of Washington last month. People working on a potential deal, both in and out of government, are optimistic […]


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

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 […]


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

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

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

Circling back on foreign tax credits

November 13, 2023

Via: POLITICO

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 […]


Tax Code, Regulations and Guidance

Mobile Employees: Tax Issues to Consider in Remote Working Policies

November 10, 2023

Via: JD Supra

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, […]