This past November, we outlined selected tax law changes that President-elect Joe Biden has proposed, both in speaking engagements and on his campaign website, some or all of which could be enacted in 2021 or future...more
1/14/2021
/ Biden Administration ,
Bonus Depreciation ,
Business Taxes ,
Capital Gains ,
Corporate Taxes ,
Estate Tax ,
Gift-Tax Exemption ,
GILTI tax ,
Income Taxes ,
Like Kind Exchanges ,
Opportunity Zones ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Planning ,
Tax Rates ,
Tax Reform
With Biden as the projected President-Elect (subject to pending federal litigation and the Electoral College vote), tax planning for late 2020, 2021, and beyond is top of mind for many businesses and individuals....more
11/10/2020
/ Biden Administration ,
Bonus Depreciation ,
Business Taxes ,
Capital Gains ,
Corporate Taxes ,
Estate Tax ,
Gift-Tax Exemption ,
GILTI tax ,
Income Taxes ,
Joe Biden ,
Like Kind Exchanges ,
Opportunity Zones ,
Presidential Elections ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Planning ,
Tax Rates ,
Tax Reform
The IRS has issued Notice 2020-18, permitting taxpayers to delay until July 15, 2020, the filing of federal income tax returns and the payment of federal income taxes that would otherwise be due April 15, 2020.
Federal...more
Jackson Walker partner Nate Smithson has prepared an updated guide to tax reform which reflects President Trump’s new tax plan. The guide covers tax brackets, deductions, capital gains, and other relevant topics in tax...more
Taxpayers that have sustained property damage (for example, damage to homes and vehicles) as a result of Hurricane Harvey may be entitled to deduct the amount of such casualty loss against their income for federal income tax...more
The Internal Revenue Service has provided for a measure of relief to individuals and businesses that have been impacted by Hurricane Harvey. As described in Information Release-2017-135, the relief extends the deadline to...more
Jackson Walker partner Nate Smithson has prepared an updated guide to tax reform under the Trump administration. The guide covers tax brackets, deductions, capital gains, and other relevant topics in tax law.
...more
6/29/2017
/ Affordable Care Act ,
Alternative Minimum Tax ,
Business Taxes ,
Capital Gains ,
corporat ,
Corporate Taxes ,
Estate Tax ,
Income Taxes ,
Itemized Deductions ,
Pass-Through Entities ,
Standard Deduction ,
Tax Deductions ,
Tax Reform ,
Trump Administration