On June 28, 2024, in Loper Bright Enterprises v. Raimondo, the United States Supreme Court reversed its 40-year-old decision in Chevron v. Natural Resources Defense Council, thereby restoring the judiciary’s final authority...more
7/3/2024
/ Administrative Agencies ,
Administrative Procedure Act ,
Chevron Deference ,
Chevron v NRDC ,
Government Agencies ,
Judicial Authority ,
Loper Bright Enterprises v Raimondo ,
National Marine Fisheries Service ,
Regulatory Authority ,
Relentless Inc v US Department of Commerce ,
SCOTUS ,
Statutory Interpretation
Last week, the House Ways and Means Committee voted to advance the Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) to the House floor. As drafted, H.R. 7024 would be funded entirely by limitations on the...more
As we previously have discussed, the IRS has for months been working to combat dubious Employee Retention Credit (ERC) claims, many of which were made at the urging of aggressive promoters. The IRS is offering a limited-time...more
On October 19, 2023, the IRS announced a special withdrawal process to help those who filed an Employee Retention Credit (“ERC”) claim and are concerned about its accuracy. This follows the September 14 announcement of a...more
On September 14, 2023, the IRS announced an immediate moratorium on processing new Employee Retention Credit (ERC) claims due to the surge in questionable or potentially fraudulent filings. According to the announcement, the...more
The IRS has updated its website providing general guidance for taxpayers in the cannabis industry. The guidance does not announce any changes in law or enforcement but rather serves as a reminder of important limitations and...more
During this past week, the U.S. Small Business Administration (the SBA) has released a number of new or amended rules (the Rules) providing additional guidance on the Paycheck Protection Program (PPP) in light of the changes...more
In response to the ongoing COVID 19 pandemic, the IRS has given investors an extension of time to invest in Qualified Opportunity Zone projects, and has given Qualified Opportunity Funds (“QOFs”) and Qualified Opportunity...more
This Alert summarizes key benefits and considerations for mid-sized companies under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
Mid-Sized Business Direct Loan Program (Mid-Sized Loan Program). Under...more
Two recent pieces of legislation, the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) contain provisions intended to provide assistance to small...more
Just in time for the holidays, the Treasury Department and IRS have released final Qualified Opportunity Zone (QOZ) regulations....more
On December 6, 2019, the Treasury announced that the final regulations had been issued and sent to OMB for approval. On December 19, 2019, the final regulations package, totaling over 500 pages, was officially published....more
Innovation, creativity, economic outlooks and some transformative ideas for the future were the key themes discussed at Saul Ewing Arnstein & Lehr’s 11th Annual Real Estate Conference in Baltimore, which was attended by...more
On April 17, the Department of Treasury and IRS released the much-awaited second round of proposed regulations on Qualified Opportunity Zone investments (the "Regulations"). The Regulations make it clear that Qualified...more
The Treasury Department has just released the second round of proposed regulations on opportunity zones. This 169-page regulatory package addresses some of the questions raised after the first round of regulations, and may...more
Saul Ewing Arnstein & Lehr LLP attorneys Ronald Fieldstone, Rohit Kapuria, Jay Rosen and Roger Bernstein attended the Opportunity Zone Expo Conference in Los Angeles on January 25, 2019. Much to their surprise, the...more
New Jersey’s tax amnesty program began November 15, 2018. The program runs through January 15, 2019, during which time eligible taxpayers can disclose and pay any outstanding taxes administered by the New Jersey Division of...more
On October 19, 2018, the Treasury Department issued much-anticipated guidance on Qualified Opportunity Funds (QOFs) and investments in them. QOFs are very attractive investments for investors who have recognized capital gains...more
On July 18, 2018, the Pennsylvania Supreme Court ruled in a 4-2 decision to uphold Philadelphia's soda tax. The tax, at a rate of 1.5 cents per ounce, is collected by distributors of sugar- and artificially-sweetened...more
On Thursday, June 21, 2018, The United States Supreme Court ruled that a state may require out-of-state sellers to collect sales tax, even when the sellers have no physical presence in the state. This decision, overturning...more
6/22/2018
/ Appeals ,
Commerce Clause ,
Constitutional Challenges ,
Internet Retailers ,
Interstate Commerce ,
Out-of-State Companies ,
Physical Presence Test ,
Quill ,
Reversal ,
Sales & Use Tax ,
SCOTUS ,
South Dakota v. Wayfair ,
Substantial Nexus
The 2017 tax reform legislation colloquially referred to as the Tax Cuts and Jobs Act (the Act) made some significant changes in the taxation of individuals, and these changes have already begun to generate new planning...more
2/7/2018
/ 529 Plans ,
Alternative Minimum Tax ,
Child Tax Credit ,
Estate Tax ,
Gift Tax ,
Income Taxes ,
Itemized Deductions ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Exemptions ,
Tax Planning ,
Tax Rates ,
Tax Reform
The 2017 tax reform legislation colloquially referred to as the Tax Cut and Jobs Act (the Act) includes a number of provisions that will affect tax-exempt organizations of all types, as well as provisions that will affect...more
President Trump just signed into law the most significant tax reform legislation since 1986. This legislation, formerly known as the Tax Cuts and Jobs Act (“the Act”), impacts aircraft owners directly. Beginning in 2018,...more
Congress has just passed the most significant tax reform legislation since 1986. It is expected that the Tax Cuts and Jobs Act (the Act) will be signed into law either in late 2017 or early 2018, depending on resolution of...more
Congress appears poised to pass the most significant tax reform legislation since 1986. It is expected that the Tax Cuts and Jobs Act will be passed and signed into law before the end of 2017, and that most provisions will be...more