For most businesses, turning the calendar to 2023 meant putting the pandemic and any of its tax-related effects further in the rearview mirror.
One notable exception, however, is the employee retention credit, or ERC,...more
4/18/2023
/ Audits ,
CARES Act ,
Coronavirus/COVID-19 ,
Employee Retention ,
Fraud ,
Income Taxes ,
Inflation Reduction Act (IRA) ,
IRS ,
Payroll Taxes ,
Self Employed ,
Small Business ,
Tax Credits
Physician recapitalization transactions are complex by nature and often present myriad issues. At Foley, in our representation of both investors in, and sellers of, physician practices, we note how often tax issues become...more
On August 7, 2022, the Senate passed a major climate, health and tax bill through the budget reconciliation process. The bill, named the Inflation Reduction Act of 2022, is expected to be taken up by the House of...more
The Biden Administration released further information about its plans for changes to the capital gain rate. Under the proposal, a new capital gain rate would apply to capital gains recognized after the date of the proposal....more
Each family office we work with is unique to the situation and needs of the family it serves. The key to success is identifying the right business and tax objectives—we take a very client specific approach. In working with...more
Participants in M&A transactions may lose eligibility, possibly retroactively, for the “employee retention credit” under Section 2301 of the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) if a party to the...more
The IRS issued guidance on the FFCRA Paid Leave Tax Credits under the Families First Coronavirus Response Act (“FFCRA”) on March 31, 2020. The FFCRA Paid Leave Tax Credits are fully refundable tax credits giving covered...more
4/27/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Employee Benefits ,
Employment Tax ,
Families First Coronavirus Response Act (FFCRA) ,
Family and Medical Leave Act (FMLA) ,
Paid Leave ,
Paid Sick Leave Act ,
Recordkeeping Requirements ,
Self Employed ,
Sick Leave ,
Sick Pay ,
Small Business ,
Tax ,
Tax Credits ,
Wages
The IRS issued guidance on the Employee Retention Credits under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) on March 31, 2020 and the Joint Tax Committee provided additional legislative history in the...more
The IRS extended the timelines for certain taxpayers engaging in Section 1031 like-kind exchanges or making investments in Qualified Opportunity Zone Funds. The IRS extensions only apply to deadlines that fall between April...more
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which was signed by the President on March 27, 2020, includes several provisions affecting taxes.
SEC. 2201. 2020 Recovery Rebates for Individuals...more
3/30/2020
/ Business Closures ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief ,
Unemployment Insurance
The Tax Cuts and Jobs Act of 2017 contains some of the most significant changes in tax laws in more than a generation. While the full implications of the Tax Act are still coming into focus, the magnitude of these changes...more
Late in 2017, the Tax Cuts and Jobs Act was passed. It will take effect in 2018.
The Tax Cuts and Jobs Act eliminated or limited a number of different tax preference items...more
The Protecting Americans from Tax Hikes Act, passed in December 2015, extended an often overlooked provision of the tax code with the potential to provide significant savings to small business owners and non-corporate...more
In This Chapter:
Tax Law: Annual Survey of Wisconsin Law -
- Case Law
- Statutory Developments
- Administrative Developments
- Excerpt from Case Law:
Individual and Fiduciary Income Tax...more