News & Analysis as of

Regulatory Reform Internal Revenue Code (IRC)

Akin Gump Strauss Hauer & Feld LLP

High Stakes: HHS Shakes Things Up on Marijuana Scheduling and DEA Abides

On May 16th, the U.S. Drug Enforcement Administration (DEA) issued a Notice of Proposed Rulemaking (NPRM) to initiate the rescheduling of marijuana from a Schedule I to a Schedule III drug. The NPRM, which was published in...more

Falcon Rappaport & Berkman LLP

Cannabis Rescheduling – A Look Towards the Future of the Industry

The Drug Enforcement Administration (DEA) will call for cannabis to be rescheduled according to a report by the Associated Press. The anticipated rescheduling follows the Department of Health & Human Services’ (HHS) August...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

DOJ Plans to Reclassify Marijuana From Schedule I to Lower-Risk Schedule III Drug

On April 30, 2024, following a months-long process, the U.S. Department of Justice (DOJ) circulated a proposal to reclassify marijuana from a Schedule I to a Schedule III controlled substance. ...more

Ballard Spahr LLP

HR 7024: Low-Income Housing Legislation on the Move

Ballard Spahr LLP on

On January 19, 2024, the House Ways and Means Committee approved the bipartisan tax legislation, “The Tax Relief For American Families and Workers Act of 2024”. Two proposed changes to Section 42 of the Internal Revenue Code...more

McDermott Will & Emery

Weekly IRS Roundup January 15 – January 19, 2024

McDermott Will & Emery on

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

Neal, Gerber & Eisenberg LLP

Client Alert: HHS Recommends Rescheduling Marijuana to Schedule III: Implications and Uncertainties for the Industry

Marijuana has long been classified as a Schedule I controlled substance under the Controlled Substances Act of 1970 (the “CSA”), which is defined as a substance with no accepted medical use and a high potential for abuse,...more

Polsinelli

$1.7 Trillion Spending Bill Drops the Hammer on Conservation Easements

Polsinelli on

Only months after the U.S. Tax Court and the 6th Circuit Court of Appeals ruled that the IRS failed to adhere to the Administrative Procedures Act when it promulgated Notice 2017-10 and designated most Syndicated Conservation...more

Kohn, Kohn & Colapinto LLP

IRS Whistleblower Office’s Latest Report Underscores Urgency of Reforms

The Internal Revenue Service (IRS) Whistleblower Program revolutionized tax fraud enforcement. Since the program was established in 2006, whistleblowers have contributed to the successful collection of $6.39 billion from...more

Hogan Lovells

Election 2020 Snapshot: Helping our real estate clients make sense of the U.S. election results

Hogan Lovells on

While there is an anticipation of greater predictability under a President Joe Biden, which is critically important to the commercial real estate industry, expected and potential changes in trade, taxation, housing and health...more

Troutman Pepper

The SECURE Act Brings Significant Changes for Retirement Plans and IRAs

Troutman Pepper on

The Setting Every Community Up for Retirement Enhancement Act of 2019 (the SECURE Act), signed into law on Dec. 20, 2019, will have a wide-ranging impact on tax-qualified retirement plans and individual retirement accounts,...more

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