News & Analysis as of October 31, 2024

Tax Reform

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

Weekly IRS Roundup October 7 – October 11, 2024

McDermott Will & Emery on 10/25/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 7, 2024 – October 11, 2024. ...more

The Tax Reform Ghost Returns for the Expiring TCJA Provisions

Cadwalader, Wickersham & Taft LLP on 10/22/2024

Many tax provisions enacted under the Tax Cuts and Jobs Act (the “TCJA”) will automatically expire on December 31, 2025, and others will expire by December 31, 2028. As previously discussed here, the pressing need to address...more

A Birthday Greeting to the Tax Reform Act of 1986

Foster Garvey PC on 10/22/2024

The Tax Reform Act of 1986 (the “TRA 86”) was signed into law by President Ronald Reagan on October 22, 1986, exactly 38 years ago today. TRA 86 was sponsored by, among others, Representative Richard Gephardt (D-Missouri) in...more

Weekly IRS Roundup August 26 – August 30, 2024

McDermott Will & Emery on 9/6/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 26, 2024 – August 30, 2024. ...more

Weekly IRS Roundup August 19 – August 23, 2024

McDermott Will & Emery on 9/4/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 19, 2024 – August 23, 2024. August 19, 2024: The IRS released Internal Revenue Bulletin...more

Weekly IRS Roundup July 22 – July 26, 2024

McDermott Will & Emery on 8/1/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 22, 2024 – July 26, 2024....more

Weekly IRS Roundup July 1 – July 5, 2024

McDermott Will & Emery on 7/12/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 1, 2024 – July 5, 2024....more

Weekly IRS Roundup June 17 – June 21, 2024

McDermott Will & Emery on 6/28/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 17, 2024 – June 21, 2024. ...more

Weekly IRS Roundup June 10 – June 14, 2024

McDermott Will & Emery on 6/26/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 10, 2024 – June 14, 2024....more

Weekly IRS Roundup May 27 – May 31, 2024

McDermott Will & Emery on 6/7/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 27, 2024 – May 31, 2024. ...more

Weekly IRS Roundup May 6 – May 10, 2024

McDermott Will & Emery on 5/17/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 6, 2024 – May 10, 2024. ...more

Weekly IRS Roundup April 29 – May 3, 2024

McDermott Will & Emery on 5/8/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 29, 2024 – May 3, 2024. ...more

Weekly IRS Roundup April 22 – April 26, 2024

McDermott Will & Emery on 5/3/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 22, 2024 – April 26, 2024. ...more

Weekly IRS Roundup April 15 – April 19, 2024

McDermott Will & Emery on 4/23/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 15, 2024 – April 19, 2024. ...more

The Sunset of the TCJA – Tax Cuts and Jobs Act of 2017 – Is Scheduled for the End of 2025

Allen Barron, Inc. on 4/19/2024

The sunset of the TCJA – the Tax Cuts and Jobs Act of 2017, is currently scheduled for the end of 2025. The TCJA contributed substantial changes to the US tax code that have benefited many US taxpayers. How should a US...more

Balancing Uncle Sam’s Checkbook: Biden’s Tax Proposals

Cadwalader, Wickersham & Taft LLP on 3/29/2024

In President Biden’s recent State of the Union Address, he called on corporations and wealthy taxpayers to pay their “fair share” through proposals to end tax breaks for private jets, further limit deductions for executive...more

Weekly IRS Roundup March 18 – March 22, 2024

McDermott Will & Emery on 3/29/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of March 18, 2024 – March 22, 2024. ...more

Weekly IRS Roundup February 26 – March 1, 2024

McDermott Will & Emery on 3/7/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 26, 2024 – March 1, 2024. ...more

Weekly IRS Roundup February 5 – February 9, 2024

McDermott Will & Emery on 2/14/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 5, 2024 – February 9, 2024. ...more

Weekly IRS Roundup January 22 – January 26, 2024

McDermott Will & Emery on 1/31/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 22, 2024 – January 26, 2024....more

Weekly IRS Roundup January 8 – January 12, 2024

McDermott Will & Emery on 1/17/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 8, 2024 – January 12, 2024....more

Weekly IRS Roundup December 18 – December 22, 2023

McDermott Will & Emery on 12/27/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 18, 2023 – December 22, 2023. ...more

Weekly IRS Roundup November 27 – December 1, 2023

McDermott Will & Emery on 12/8/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 27, 2023 – December 1, 2023....more

Weekly IRS Roundup October 2 – October 6, 2023

McDermott Will & Emery on 10/16/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 2, 2023 – October 6, 2023. ...more

Massachusetts Tax Reform Enacted – Estate Tax Exemption Increase and Other Help for Residents

Bowditch & Dewey on 10/5/2023

The long-awaited Massachusetts tax reform package was signed by Governor Maura Healey on Wednesday, October 4, 2023. Among the provisions: Estate Tax Reform: Establishes a non-refundable credit of $99,600 for each estate,...more

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