On July 4, 2025, President Trump signed into law the “One Big Beautiful Bill Act” (the “2025 Act”). The Act makes permanent some provisions originally enacted in 2017 as part of the Tax Cuts and Jobs Act (the “2017 Act”),...more
7/14/2025
/ Business Income ,
Business Taxes ,
Charitable Donations ,
Corporate Taxes ,
Estate Tax ,
GILTI tax ,
Income Taxes ,
New Legislation ,
One Big Beautiful Bill Act ,
Opportunity Zones ,
Over-Time ,
Qualified Small Business Stock ,
Research and Experiment Tax Credit ,
SALT ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Exemptions ,
Tax Legislation ,
Tax Planning ,
Tax Reform ,
Tipped Employees ,
Trump Administration
On May 22, 2025, the House of Representatives passed the “One Big Beautiful Bill Act” (the “Bill”) by a one vote margin. Set forth below is a summary description of some of the provisions of the Bill....more
5/23/2025
/ Business Taxes ,
Endowment Funds ,
Estate Tax ,
Federal Budget ,
GILTI tax ,
One Big Beautiful Bill Act ,
Proposed Legislation ,
SALT ,
State Taxes ,
Tax Deductions ,
Tax Legislation ,
Tax Rates ,
Tax Reform ,
Trump Administration
On August 28, 2020, the IRS issued Notice 2020-65, which was intended to provide guidance to employers on how to implement President Donald Trump’s August 8, 2020 memorandum directing the U.S. Treasury Department to defer the...more
On August 8, 2020, President Donald Trump signed an executive order directing the U.S. Treasury Department to defer the withholding, deposit, and payment of certain employment taxes that would otherwise be withheld and...more