U.S. Introduces “Fair and Reciprocal Plan,” Marking Significant and Impactful Shift in Trade Policy
2025 Outlook: The Department of Health and Human Services Under the Second Trump Administration – Diagnosing Health Care
The Implications of President Trump's EO on Gender Ideology: What's the Tea in L&E?
Employment Law Now - IX-160 – Trump 2.0 Immigration Policy and Employer Best Practices
Changes at the CFPB Under the Trump Administration
Government Contracts and New Mandates Executive Orders and Cost Recovery Strategies Explained
Consumer Finance Monitor Podcast Episode: Will the State Attorneys General and Other State Agencies Fill the Void Left by the CFPB?
#WorkforceWednesday®: Federal Agencies Begin Compliance Efforts Under Trump Administration - Employment Law This Week®
Preparing Employers for ICE Enforcement
Adapting to Tariffs and Other Trade Policy Shifts Under the Trump Administration
UDAAP and Fair Lending Developments: 2024 Year-in-Review and 2025 Predictions — The Consumer Finance Podcast
The Labor Law Insider: Student Athletes as Employees – Changes and Updates on the Dartmouth Case, NIL Litigation
False Claims Act Insights - How Tariffs Can Increase Whistleblower Activity and Associated FCA Liability
A Brief Primer on Tariffs Under the Trump Administration
Employment Law Now IX-159 - 8th Anniversary Special: The Current State of Politics for Employers
Consumer Finance Monitor Podcast Episode: The Impact of the Election on the CFPB: What to Expect with Supervision and Enforcement During Trump 2.0
Adapting to Changes in a New Presidential Era
#WorkforceWednesday®: Employment Law Changes Under President Trump - Employment Law This Week®
What to Expect from the New FTC Leadership
AGG Talks: Women in Tech Law Podcast - Episode 5: How the Tech Industry Can Monitor Regulatory Changes Under the Trump Administration
President Trump is meeting with Republican lawmakers to discuss potential tax code changes, including a proposal to eliminate the carried interest tax break. White House Press Secretary Karoline Leavitt announced the...more
President Trump has indicated that one of his key economic priorities is to extend the expiring provisions of the Tax Cuts and Jobs Act (TCJA). However, Congress still needs to resolve disagreements on the cost and funding of...more
On August 8, 2020, President Trump issued an executive order, directing the U.S. Treasury to grant employers the ability to defer the withholding, deposit and payment of certain payroll taxes as further COVID-19 tax relief....more
Under the CARES Act passed on March 27, 2020, Congress allowed employers and self-employed workers to defer payment of their portion of Social Security taxes that will accrue between March 27 and December 31, 2020. Fifty...more
In response to the ongoing coronavirus pandemic (COVID-19), the Internal Revenue Service (the IRS) has taken additional actions intended to provide immediate relief to taxpayers. Delay of Identification and Acquisition...more
On April 10, 2020, the Internal Revenue Service (the “IRS”) issued Revenue Procedure 2020-22 (the “Revenue Procedure”), which (1) permits an “electing real property trade or business” that elected not to be subject to the...more
As you may know, President Trump signed into law the Tax Cuts and Jobs Act (TCJA), enacting broad reforms to the Internal Revenue Code. How your state implements these reforms may have an impact on project recruitment and...more
With over a century of combined experience, the lawyers of Proskauer's Private Client Services Department regularly provide their diverse clientele – from business entrepreneurs and corporate executives to sports figures and...more
Section 118 provides “[i]n the case of a corporation, gross income does not include any contribution to the capital of the taxpayer.” The regulations promulgated under Section 118 under prior law provide, with respect to...more
President Trump signed into law tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”) on December 22, 2017. The Tax Act implemented the most far-reaching changes to the Internal Revenue Code (the...more
Charitable organizations work hard to maintain exempt status. These organizations operate in a highly regulated landscape: In exchange for enjoying freedom from income taxes, they must comply with strict organizational and...more
On Wednesday, the Illinois Department of Revenue (Department) issued additional guidance concerning its treatment of the new deemed repatriated foreign earnings provisions found in Internal Revenue Code Section 965, enacted...more
The Tax Cuts and Jobs Act (“TCJA”) creates the need for tax planning with respect to several major life-changing activities individuals may encounter, including marriage, divorce, home ownership, casualty losses, medical...more
BACKGROUND - The Tax Cuts and Jobs Act (“TCJA”) creates, modifies or eliminates a number of employment and employee fringe benefit related provisions of the Code. Both employers and employees need to be aware of these...more
• President Donald Trump on Dec. 22, 2017, signed the Tax Cuts and Jobs Act, the first major overhaul of the U.S. tax system in over 30 years. • Although few of the enacted provisions are specific to Indian Country, several...more
• The recent Tax Cuts and Jobs Act of 2017 (the Act), enacted on Dec. 22, 2017, contains a few rules that will impact benefit administrators. • This client alert focuses on changes made to the tax treatment of plan loan...more
Earlier this month, Connecticut Governor Dan Malloy released his Governor’s Bill addressing the various state tax implications of the federal tax reform bill enacted by Congress in December 2017, commonly referred to as the...more
• Each individual’s exemptions from federal estate, gift and GST taxes have roughly doubled to approximately $11,200,000 • The increased exemptions are available only temporarily, through 2025 • We recommend that you...more
Under the Tax Cuts and Jobs Act, Congress is now offering a new 20% deduction for “pass-through” businesses – i.e. businesses that are not corporations. With the corporate tax rate being reduced under the new law to a flat...more
BACKGROUND - The Tax Cuts and Jobs Act (“TCJA”) adopted a new 20% deduction for non-corporate taxpayers. It only applies to “qualified business income.” The deduction, sometimes called the “pass-through deduction,” is...more
The recently enacted Tax Cuts and Jobs Act (the Act) contains a largely unnoticed provision worth the attention of human resources professionals and legal counsel who draft and implement settlement agreements and releases of...more
BACKGROUND/PRIOR LAW - PartnershipUnder IRC § 708(a), a partnership is considered as a continuing entity for income tax purposes unless it is terminated. Given the proliferation of state law entities taxed as partnerships...more
The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more