On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (the “Act”) into law. The Act is similar to the Senate Finance Committee’s draft legislative text (the “SFC Bill”) (released on June 16, 2025), with...more
On May 18, 2025, the House Budget Committee approved the legislation entitled, “The One, Big, Beautiful Bill” (the “House Bill”). The bill is expected to be revised by the House Rules Committee before being sent to the House...more
On March 28, 2022, the Biden Administration released the Fiscal Year 2023 Budget, and the “General Explanations of the Administration’s Fiscal Year 2023 Revenue Proposals,” which is commonly referred to as the “Green Book.” ...more
7/21/2022
/ Audits ,
Base Erosion and Anti-Abuse Tax (BEAT) ,
Bi-Partison Balanced Budget Act (BBA) ,
Biden Administration ,
Budgets ,
Business Taxes ,
Cryptocurrency ,
Digital Assets ,
Donor-Advised Funds (DAFs) ,
FATCA ,
GILTI tax ,
Green Book ,
Loans ,
Mark-To-Market ,
Offshoring ,
Passive Foreign Investment Company ,
REIT ,
Tax Credits ,
Tax Deductions
Yesterday, on December 19, 2021, Senator Joe Manchin (D., W.Va.) said that he opposes the Build Back Better Act, which effectively prevents its passage. While there are no immediate prospects for the Build Back Better Act to...more
12/20/2021
/ Alternative Minimum Tax ,
Base Erosion and Anti-Abuse Tax (BEAT) ,
Biden Administration ,
Business Taxes ,
Corporate Taxes ,
Foreign Derived Intangible Income (FDII) ,
Foreign Tax Credits ,
GILTI tax ,
Income Taxes ,
International Tax Issues ,
Legislative Agendas ,
Proposed Legislation ,
SALT ,
Share Buybacks ,
Spinoffs ,
Tax Rates ,
Tax Reform
This blog summarizes some of the tax proposals of President-elect Joe Biden and other prominent Democrats.
Biden’s Proposals -
Increased Individual Tax Rate -
Biden would increase the top marginal income tax rate...more
1/14/2021
/ Biden Administration ,
Business Taxes ,
Capital Gains ,
Corporate Taxes ,
Estate Tax ,
GILTI tax ,
Income Taxes ,
Publicly-Traded Companies ,
Tax Credits ,
Tax Planning ,
Tax Rates ,
Tax Reform
On April 23, the Treasury Department and the Internal Revenue Service (the "IRS") issued helpful proposed regulations under section 512(a)(6) of the Internal Revenue Code (the "proposed regulations"). Section 512(a)(6) was...more
On November 26, 2018, the Internal Revenue Service (the “IRS”) and the U.S. Department of the Treasury (the “Treasury”) issued proposed regulations (the “Proposed Regulations”) under section 163(j) of the Internal Revenue...more
12/6/2018
/ Anti-Abuse Rule ,
Business Taxes ,
C-Corporation ,
Controlled Foreign Corporations ,
GILTI tax ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Partnerships ,
PFIC ,
Proposed Regulation ,
REIT ,
REMIC ,
Tax Deductions ,
Tax Planning ,
U.S. Treasury
Yesterday, the Trump Administration, the House Committee on Ways and Means, and the Senate Finance Committee proposed a “unified framework” for tax reform. The members of the working group are House Speaker Paul Ryan (R-WI),...more
9/29/2017
/ Alternative Minimum Tax ,
Business Taxes ,
Corporate Taxes ,
Estate Tax ,
Income Taxes ,
Personal Exemptions ,
Repeal ,
Retirement Plan ,
Standard Deduction ,
Tax Rates ,
Tax Reform ,
Trump Administration