News & Analysis as of October 12, 2024

Taxation

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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 March 25 – March 29, 2024

McDermott Will & Emery on 4/3/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of March 25, 2024 – March 29, 2024....more

Weekly IRS Roundup November 13 – November 17, 2023

McDermott Will & Emery on 11/22/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 13, 2023 – November 17, 2023. ...more

IRS Raises Standard Mileage Rate for July to December 2022

Littler on 6/10/2022

On June 9, 2022, the Internal Revenue Service issued Announcement 2022-13, increasing the optional standard mileage rate for the final six months of 2022 from 58.5 cents per mile to 62.5 cents per mile. The new rate will be...more

Some Estate Planning and Business Transition Issues Not to Overlook Before 2021 Year-End

Schwabe, Williamson & Wyatt PC on 9/27/2021

As we enter the final quarter of 2021, there are many things still to do and plan for before the end of the year. There are also some timing considerations given proposed legislative changes and the lead time needed to...more

Privacy Tip #181- IRS Warns Consumers and Employers About Tax-Related Phishing Schemes

Robinson+Cole Data Privacy + Security Insider on 3/15/2019

In another round of warnings from the federal government on protecting yourself from tax return fraud and identity theft, the Internal Revenue Service (IRS) has issued its 2019 “Dirty Dozen” Campaign, designed to warn...more

Privacy Tip #180 – National Consumer Protection Week—Tax Identity Theft

Robinson+Cole Data Privacy + Security Insider on 3/11/2019

Last week was National Consumer Protection Week. In celebration of that, this post is devoted to protection from tax identity theft. ...more

New IRS proposed regulations under Section 956 substantially reduce "deemed dividend" concerns with respect to pledges and...

Hogan Lovells on 11/15/2018

Until the issuance of the Proposed Regulations described below, under Section 956 of the Internal Revenue Code of 1986 (IRC) and Treasury Regulations thereunder, deemed dividends were potentially created when a U.S. borrower...more

IRS issues initial guidance on application of Code Section 162(m) as amended by the Tax Cuts and Jobs Act

Hogan Lovells on 8/31/2018

On August 21, the Internal Revenue Service (IRS) issued Notice 2018-68 containing much-awaited interpretive guidance on Section 162(m) of the Internal Revenue Code as amended by last year's tax reform act (Tax Act), including...more

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