News & Analysis as of October 12, 2024

Proposed Regulation

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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 May 20 – May 24, 2024

McDermott Will & Emery on 6/3/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 20, 2024 – May 24, 2024. ...more

Weekly IRS Roundup April 8 – April 12, 2024

McDermott Will & Emery on 4/16/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 8, 2024 – April 12, 2024. April 8, 2024: The IRS released Internal Revenue Bulletin 2024-15,...more

Weekly IRS Roundup April 1 – April 5, 2024

McDermott Will & Emery on 4/12/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 1, 2024 – April 5, 2024....more

Weekly IRS Roundup February 19 – February 23, 2024

McDermott Will & Emery on 2/29/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 19, 2024 – February 23, 2024. February 20, 2024: The IRS published Announcement 2024-12, which...more

Weekly IRS Roundup January 15 – January 19, 2024

McDermott Will & Emery on 1/24/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 15, 2024 – January 19, 2024. ...more

Weekly IRS Roundup December 25 – December 29, 2023

McDermott Will & Emery on 1/3/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 25, 2023 – December 29, 2023...more

Weekly IRS Roundup December 11 – December 15, 2023

McDermott Will & Emery on 12/20/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 11, 2023 – December 15, 2023. ...more

Weekly IRS Roundup November 20 – November 24, 2023

McDermott Will & Emery on 11/30/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 20, 2023 – November 24, 2023....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

Weekly IRS Roundup August 14 – August 18, 2023

McDermott Will & Emery on 8/23/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 14, 2023 – August 18, 2023...more

Weekly IRS Roundup April 24 – April 28, 2023

McDermott Will & Emery on 5/2/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 24, 2023 – April 28, 2023...more

Weekly IRS Roundup February 20 – February 24, 2023

McDermott Will & Emery on 2/28/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 20, 2023 – February 24, 2023. ...more

Weekly IRS Roundup December 26 – December 30, 2022

McDermott Will & Emery on 1/4/2023

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 26, 2022 – December 30, 2022...more

Weekly IRS Roundup September 26 – September 30, 2022

McDermott Will & Emery on 10/3/2022

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 26, 2022 – September 30, 2022....more

Weekly IRS Roundup January 6 – January 10, 2020

McDermott Will & Emery on 1/14/2020

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 6 – January 10, 2020. January 6, 2020: The IRS issued a News Release confirming that the...more

Weekly IRS Roundup December 9 – 13, 2019

McDermott Will & Emery on 12/18/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 9 – 13, 2019. December 10, 2019: The IRS issued a notice providing that the requirement...more

Weekly IRS Roundup December 2 – 6, 2019

McDermott Will & Emery on 12/10/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 2 – 6, 2019. December 2, 2019: The IRS issued final regulations providing guidance...more

Weekly IRS Roundup September 30 – October 4, 2019

McDermott Will & Emery on 10/9/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 30 – October 4, 2019. September 30, 2019: The IRS published a draft of the tax year...more

Weekly IRS Roundup September 23 – 27, 2019

McDermott Will & Emery on 9/30/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 23 – 27, 2019. September 24, 2019: The IRS issued a notice that provides a safe...more

Weekly IRS Roundup July 29 – August 2, 2019

McDermott Will & Emery on 8/5/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 29 – August 2, 2019. July 30, 2019: The IRS issued a list of answers to frequently asked...more

Weekly IRS Roundup July 1 – 5, 2019

McDermott Will & Emery on 7/8/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 1 – 5, 2019. July 2, 2019: The IRS issued a Chief Counsel Notice wherein the Chief...more

Weekly IRS Roundup June 3 – 7, 2019

McDermott Will & Emery on 6/10/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 3 – 7, 2019. June 4, 2019: The IRS issued a news release noting that it granted tax relief...more

Weekly IRS Roundup May 27 – May 31, 2019

McDermott Will & Emery on 6/3/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 27 – May 31, 2019. May 28, 2019: The IRS released Announcement 2019-05 listing recent...more

Weekly IRS Roundup April 8 – 12, 2019

McDermott Will & Emery on 4/15/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 8 – 12, 2019. April 8, 2019: The IRS issued a news release warning taxpayers against...more

The New Foreign Tax Credit Proposed Regulations – An Executive Summary

Fenwick & West LLP on 12/13/2018

Released on November 30, 2018, the foreign tax credit proposed regulations provide a comprehensive new framework for calculating the foreign tax credit in light of several changes made by the Tax Cuts and Jobs Act (TCJA or...more

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