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Tax Reform Tax Relief Tax Credits

Woods Rogers

State and Local Tax Law Changes in Effect in 2024

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The Virginia Department of Taxation released its 2024 legislative summary detailing changes, effective July 1, 2024, to Virginia’s state and local tax laws. The following discussion focuses on a few of the changes you may...more

DarrowEverett LLP

The Brass Tacks: IRS Creates Process for Withdrawing ERC Claims

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The Internal Revenue Service (“IRS”) recently granted employers a means to avoid interest and penalties on inappropriately taken Employee Retention Tax Credit (“ERC”) claims. This surely will come as a relief to taxpayers who...more

Verrill

2023 Massachusetts Tax Update

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Massachusetts Estate Tax: For decedents dying on or after January 1, 2023, there is no Massachusetts estate tax for an estate under $2,000,000. The law does not adjust the filing threshold so state tax returns may still be...more

Bowditch & Dewey

Massachusetts Tax Reform Enacted – Estate Tax Exemption Increase and Other Help for Residents

Bowditch & Dewey on

The long-awaited Massachusetts tax reform package was signed by Governor Maura Healey on Wednesday, October 4, 2023. Among the provisions: Estate Tax Reform: Establishes a non-refundable credit of $99,600 for each estate,...more

McDermott Will & Emery

Weekly IRS Roundup August 21 – September 1, 2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for August 21, 2023 – September 1, 2023....more

Bowditch & Dewey

Massachusetts Families and Seniors Left Waiting for Massachusetts Tax Reform

Bowditch & Dewey on

On August 9, 2023, Massachusetts Governor Maura Healey signed a $56 billion Fiscal Year 2024 state budget that increases state spending by 6.2% compared to a year ago. However, what was missing from this budget was the highly...more

Brownstein Hyatt Farber Schreck

IRS Releases Long-Awaited Spending Plan for $80 Billion in New Inflation Reduction Act Funding

On Thursday, April 6, the Treasury Department and Internal Revenue Service (IRS) issued their long-term Strategic Operating Plan (SOP), outlining how the IRS intends to spend $79.4 billion in funding provided by the Inflation...more

Stinson LLP

Employee Retention Tax Credit Ended 2021 Q3

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On November 5, 2021, the House of Representatives passed H.R. 3684: Infrastructure Investment and Jobs Act. The Act currently awaits signature by President Biden. Prior to the Act, Section 3134 of the Internal Revenue Code...more

Brownstein Hyatt Farber Schreck

Taxation & Representation - June 2019 #2

Well, they did it. Despite lingering resentment between Democrats and Republicans after the passage of the Tax Cuts and Jobs Act (P.L.115-97), Congress was able to pass tax legislation that was overwhelmingly supported by...more

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