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
President Donald Trump has issued a series of executive orders with significant tax implications. The moves underscore the administration’s commitment to influencing tax policies, regulatory frameworks and trade practices as...more
3/18/2025
/ Department of Government Efficiency (DOGE) ,
Executive Orders ,
Government Agencies ,
Internal Revenue Code (IRC) ,
International Trade ,
IRS ,
National Security ,
Reciprocity Rules ,
Regulatory Agenda ,
Regulatory Reform ,
Tariffs ,
Tax Liability ,
Tax Planning ,
Trump Administration ,
U.S. Treasury
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 June 17, 2024, the IRS issued three pieces of guidance addressing certain “basis-shifting” transactions in the context of related-party partnerships:
In new proposed regulations, the IRS identified several...more
The Inflation Reduction Act (IRA) of 2022 reflected a push by Congress and the Biden administration to address climate change by broadening the applicability of tax credits traditionally available for renewable energy to new...more
The Inflation Reduction Act (IRA) of 2022 includes an estimated $370 billion of energy-related credits, marking a historic effort to reduce greenhouse gas emissions. Significant new provisions include direct payment and...more
On August 7, 2022, the Senate passed the Inflation Reduction Act (the Act), which is expected to have a significant impact on climate, tax and health care policy in the United States. The result of intense negotiations among...more
The Treasury Department and the Internal Revenue Service (IRS) recently released long-awaited proposed regulations regarding the carbon capture and sequestration tax credit provided under Section 45Q of the Internal Revenue...more
On September 9, 2019, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) proposed regulations (proposed regulations) addressing items of income and deduction that are included in the calculation of...more
9/30/2019
/ Acquisitions ,
Built-In Gains ,
Change in Ownership ,
Corporate Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Loss Limitation Rules ,
Mergers ,
Net Operating Losses ,
Proposed Regulation ,
Section 382 ,
Tax Deductions ,
Tax Planning ,
U.S. Treasury