On July 4, 2025, President Donald Trump signed into law the Act (formerly referred to as the One Big Beautiful Bill Act, or OBBBA). The Act includes a suite of tax-related provisions that (1) make permanent many of the...more
7/16/2025
/ Clean Energy ,
Corporate Taxes ,
Employee Benefits ,
Federal Budget ,
Income Taxes ,
Inflation Reduction Act (IRA) ,
International Tax Issues ,
Tax Credits ,
Tax Deductions ,
Tax Incentives ,
Tax Legislation ,
Tax Reform
On June 16, 2025, the Senate Finance Committee released its version of the tax-related proposals (Senate Bill) for inclusion in the One Big Beautiful Bill Act (OBBBA). In line with the bill the House passed on May 22, 2025...more
On May 22, 2025, the House of Representatives passed the One Big Beautiful Bill Act (OBBBA). Tax-related proposals contained in the OBBBA would extend or make permanent select corporate, international and individual tax...more
6/27/2025
/ Corporate Taxes ,
Energy Sector ,
Estate Planning ,
Estate Tax ,
International Tax Issues ,
New Legislation ,
Renewable Energy ,
SALT ,
State Taxes ,
Tax Credits ,
Tax Deductions ,
Tax Rates ,
Tax Reform
Key Points -
- The Senate Finance Committee’s version of the tax-related proposals aim to deliver on Senate Republicans’ promise to make many of the TCJA’s individual and corporate tax measures permanent.
- The bill...more
6/26/2025
/ Base Erosion and Anti-Abuse Tax (BEAT) ,
Corporate Taxes ,
EBITDA ,
Energy Sector ,
Federal Budget ,
Foreign Derived Intangible Income (FDII) ,
GILTI tax ,
Income Taxes ,
International Tax Issues ,
Legislative Agendas ,
Proposed Legislation ,
SALT ,
Senate Finance Committee ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Taxation
On May 22, 2025, the House of Representatives passed the One Big Beautiful Bill Act (OBBBA). Tax-related proposals contained in the OBBBA would extend or make permanent select corporate, international and individual tax...more
5/29/2025
/ Business Taxes ,
Corporate Taxes ,
Estate Tax ,
Federal Budget ,
Gift Tax ,
GILTI tax ,
Income Taxes ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
International Tax Issues ,
Local Taxes ,
New Legislation ,
Popular ,
SALT ,
State Taxes ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Taxation
Key Points -
- Many of the tax reform suggestions President-elect Trump floated during the campaign would result in significant revenue loss, which could mean they will face resistance from Republicans concerned about...more
1/21/2025
/ Budget Reconciliation ,
Corporate Taxes ,
Debt ,
Deficit Reduction ,
Internal Revenue Code (IRC) ,
International Tax Issues ,
Legislative Agendas ,
Regulatory Agenda ,
Renewable Energy ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Trump Administration
On March 9, 2023, the Treasury Department released the General Explanations of the Administration’s Fiscal Year 2024 Revenue Proposals (sometimes called the Green Book) to accompany President Joe Biden’s proposed budget for...more
3/20/2023
/ Biden Administration ,
Corporate Taxes ,
Estate Tax ,
Federal Budget ,
Gift Tax ,
GILTI tax ,
Green Book ,
Income Taxes ,
International Tax Issues ,
Partnerships ,
Property Tax ,
Retirement ,
Tax Reform ,
U.S. Treasury
The G7’s support for OECD-backed tax reforms could mark a big step toward a more consistent, revamped global tax scheme — depending on the details and whether it is actually adopted. ...more
On May 28, 2021, the Treasury Department released the General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals (sometimes called the Green Book) to accompany President Joe Biden’s proposed budget for FY...more
6/15/2021
/ Biden Administration ,
Capital Gains Tax ,
Corporate Taxes ,
Energy Tax Incentives ,
GILTI tax ,
Green Book ,
Income Taxes ,
International Tax Issues ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Reform
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law on March 27, 2020, representing the so-called “Phase 3” of the response to the COVID-19 pandemic, as discussed in our client alert “CARES...more
4/2/2020
/ Base Erosion and Anti-Abuse Tax (BEAT) ,
CARES Act ,
Controlled Foreign Corporations ,
Coronavirus/COVID-19 ,
Debt Restructuring ,
EBITDA ,
GILTI tax ,
High-Yield Markets ,
Interest Income ,
International Tax Issues ,
Net Operating Losses ,
Relief Measures ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Planning ,
Tax Relief
On November 19, 2013, Sen. Max Baucus (D-Mont.), Chairman of the Senate Finance Committee, released a Staff Discussion Draft on International Business Tax Reform. The changes proposed in the discussion draft are far-reaching...more