Welcome to this week’s edition of Tax Bytes. Our team of tax lawyers is actively monitoring for federal and international tax developments and issues of note. Each week we pull together the items we deem most important to...more
On May 14, 2025, the House Ways and Means Committee approved the so-called “One Big Beautiful Bill” (Bill). We have issued several other alerts regarding the Bill. Among other tax provisions, the Bill includes two provisions...more
5/28/2025
/ Business Development ,
Federal Budget ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Investment Funds ,
Investors ,
New Legislation ,
REIT ,
Tax Deductions ,
Tax Liability ,
Tax Reform ,
Taxation ,
Ways and Means Committee
As the “One Big Beautiful Bill” continues its legislative path through Congress, it remains too close to call on how the final legislation will impact the sports industry. On May 22, 2025, the House of Representatives...more
5/27/2025
/ Colleges ,
Educational Institutions ,
Excise Tax ,
Federal Budget ,
Internal Revenue Code (IRC) ,
Proposed Legislation ,
Sports ,
Tax Deductions ,
Tax Liability ,
Taxation ,
Trump Administration ,
UBIT ,
Universities
On February 4, the IRS issued a new revenue ruling – Rev. Rul. 2014-7 – that indicates that the IRS no longer plans to issue formal guidance concerning the treatment of the dividends-received deduction (DRD) with respect to...more
Earlier this year, the United States District Court for the Middle District of Louisiana upheld the Internal Revenue Service’s disallowance of $1 billion of deductions claimed by Dow Chemical in relation to two transactions...more