News & Analysis as of November 15, 2024

Tax Code

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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 -

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

Liberty Global Appeals Economic Substance Doctrine Ruling

Cadwalader, Wickersham & Taft LLP on 9/3/2024

In ongoing litigation between the government and Liberty Global Inc. (“Liberty Global”), Liberty Global has appealed a district court’s decision that ruled in favor of the government to the Tenth Circuit. We have previously...more

The Supreme Court Has Saved the Tax Code for Now and Left Room for Moore

Cadwalader, Wickersham & Taft LLP on 7/29/2024

In Moore v. United States, the Supreme Court upheld the constitutionality of the mandatory repatriation tax (MRT), saving a significant portion of the current tax code for now. The question in front of the Court was whether...more

Massachusetts Taxpayers Find More Complexity in Differences Between Massachusetts and Federal Tax Law

Bowditch & Dewey on 11/9/2021

It seems every year there are changes to the Internal Revenue Code (IRC). It is a challenge, even for tax pros, to keep up with the ever-changing tax code. Massachusetts taxpayers also have an added challenge in keeping up...more

How does the IRS enforce the Nation’s Tax Laws for the benefit of all Taxpayers?

Foodman CPAs & Advisors on 4/14/2021

On December 17, 2020, the IRS published a document entitled “Closer Look”. It explains the IRS aspiration for balancing the Taxpayer burden with the potential benefit of its compliance effort when deciding which compliance...more

How Can a Craft Brewer Use the Tax Code to Help with Cash Flow?

Bowditch & Dewey on 6/9/2020

Breweries can turn to the Internal Revenue Code to help with cash flow in these difficult times. Section 165(i) of the Internal Revenue Code allows a taxpayer to deduct any loss occurring in a “disaster area” and attributable...more

Weekly IRS Roundup August 12 – 16, 2019

McDermott Will & Emery on 8/19/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 12 – 16, 2019. August 12, 2019: The IRS issued a news release announcing that John...more

Weekly IRS Roundup July 22 – 26, 2019

McDermott Will & Emery on 7/30/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 22–26, 2019. July 22, 2019: The IRS issued a revenue procedure in which it issued indexing...more

Can the IRS release Taxpayer information to a third party?

Foodman CPAs & Advisors on 2/21/2019

Tax Return information is protected from disclosure by the IRS to other parties by the IRC Section 6103 -Confidentiality and Disclosure of Returns and Return information. ...more

Opportunity Zones: How Communities Can Leverage This New Provision to Jumpstart Investment

Akin Gump Strauss Hauer & Feld LLP on 9/19/2018

• Even though practitioners are awaiting proposed regulations on the new opportunity zone provision, interested parties are already starting to set up qualified opportunity funds to pool investor capital. • States, cities,...more

Our Nation’s Capital Has Dog Poop Police, But We Let the Congress Do This?

Dechert LLP on 12/18/2017

Did you know that the District of Columbia has assigned officers to enforce its police-your-dog laws? The Poop Police. How low do you have to go, how badly do you have to screw up to be assigned in the District of Columbia to...more

Thanksgiving Tax Frenzy – New Tax Bill Proposes Executive Compensation Changes That Could Derail Deferred Compensation and Stock...

Sheppard Mullin Richter & Hampton LLP on 11/15/2017

Congress has been in a frenzy to try and get new tax legislation passed by Thanksgiving, and members of the House and Senate would presumably rather be enjoying a feast rather than drafting and analyzing additional tax...more

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Income Taxes › Internal Revenue Code (IRC) › Tax Code

A Birthday Greeting to the Tax Reform Act of 1986

Liberty Global Appeals Economic Substance Doctrine Ruling

The Supreme Court Has Saved the Tax Code for Now and Left Room for Moore

Massachusetts Taxpayers Find More Complexity in Differences Between Massachusetts and Federal Tax Law

How does the IRS enforce the Nation’s Tax Laws for the benefit of all Taxpayers?

How Can a Craft Brewer Use the Tax Code to Help with Cash Flow?

Weekly IRS Roundup August 12 – 16, 2019

Weekly IRS Roundup July 22 – 26, 2019

Can the IRS release Taxpayer information to a third party?

Opportunity Zones: How Communities Can Leverage This New Provision to Jumpstart Investment

Our Nation’s Capital Has Dog Poop Police, But We Let the Congress Do This?

Thanksgiving Tax Frenzy – New Tax Bill Proposes Executive Compensation Changes That Could Derail Deferred Compensation and Stock...

House Tax Reform Bill Released: Would Cause Major Changes to US Tax System

Effects of House Tax Reform Bill on Securitizations and Funds

UPDATE: Three Significant Takeaways from the Tax Cuts and Jobs Act

Trump Administration Releases One-Page Tax Plan

Income Taxes › Internal Revenue Code (IRC) › Tax Code

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