On July 1, 2025, the U.S. Senate passed a version of the One Big Beautiful Bill Act that differed significantly from the version previously passed on May 22 by the U.S. House of Representatives as H.R. 1. Front of mind for...more
7/7/2025
/ Clean Energy ,
Energy Policy ,
Energy Projects ,
Energy Tax Incentives ,
Foreign Entities ,
Foreign Investment ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
Investors ,
New Legislation ,
Regulatory Requirements ,
Renewable Energy ,
Tax Credits
On July 1, 2025, the U.S. Senate passed its version of The One Big Beautiful Bill (OBBB) Act, the massive budget bill that contains significant provisions affecting tax credits for renewable energy project development. After...more
7/3/2025
/ Clean Energy ,
Energy Policy ,
Energy Projects ,
Energy Tax Incentives ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
New Legislation ,
Popular ,
Production Tax Credit ,
Renewable Energy ,
Senate Finance Committee ,
Tax Credits ,
Tax Reform
The Senate Finance Committee recently released its own draft of the “One Big Beautiful Bill Act” (the Bill) previously passed by the House as H.R. 1. Both the House and Senate versions of the Bill impose restrictions on...more
6/25/2025
/ China ,
Energy Projects ,
Enforcement Actions ,
Foreign Entities ,
Inflation Reduction Act (IRA) ,
Iran ,
IRS ,
North Korea ,
Popular ,
Prohibited Transactions ,
Proposed Legislation ,
Renewable Energy ,
Risk Management ,
Russia ,
Senate Finance Committee ,
Supply Chain ,
Tax Credits ,
US Trade Policies ,
Uyghur Forced Labor Prevention Act (UFLPA)
On June 16, 2025, the Senate Finance Committee released its version of the “One, Big Beautiful Bill” (OBBB) that would create a steep phase-out of renewable energy tax credits—notably, renewable energy companies would have to...more
6/19/2025
/ Clean Energy ,
Energy Policy ,
Energy Projects ,
Energy Storage ,
Energy Tax Incentives ,
Foreign Entities ,
Investment Tax Credits ,
Legislative Agendas ,
Production Tax Credit ,
Proposed Legislation ,
Renewable Energy ,
Safe Harbors ,
Senate Committees ,
Senate Finance Committee ,
Solar Energy ,
Tax Credits
On June 16, 2025, the Senate Finance Committee released its version of the “One, Big Beautiful Bill” (OBBB) that would create a steep phase-out of renewable energy tax credits—notably, renewable energy companies would have to...more
6/18/2025
/ Clean Energy ,
Electric Vehicles ,
Energy Policy ,
Energy Projects ,
Investment Tax Credits ,
New Legislation ,
Production Tax Credit ,
Proposed Legislation ,
Renewable Energy ,
Safe Harbors ,
Senate Finance Committee ,
Tax Credits
One of the most celebrated features of the Inflation Reduction Act (“IRA”) is the ability to sell tax credits, including the Production Tax Credit (“PTC”) under Internal Revenue Code (“IRC”) § 45 and the Investment Tax Credit...more
6/10/2025
/ Corporate Taxes ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
Production Tax Credit ,
Renewable Energy ,
State and Local Government ,
State Taxes ,
Tax Credits ,
Tax Planning ,
Texas
Kevin’s practice involves guiding clients through the complexities of federal, state, local and international taxation. Kevin routinely advises business entities, tax-exempt organizations and high net worth individuals on a...more
President Trump’s executive order (EO) “Restoring Public Service Loan Forgiveness,” issued March 7, 2025, sets limits on student loan forgiveness under the Public Service Loan Forgiveness (PLSF) program. But the language used...more
3/11/2025
/ Charitable Organizations ,
Compliance ,
Department of Education ,
Executive Orders ,
Internal Revenue Code (IRC) ,
IRS ,
Loan Forgiveness ,
Nonprofits ,
Public Service Loan Forgiveness program (PSLF program) ,
Student Loans ,
Tax Court ,
Tax Exempt Entities ,
Tax Exemptions ,
Trump Administration
The first seven weeks of the second Trump Administration has revealed that tariffs are going to be a primary tool in the administration’s trade arsenal to address both domestic and foreign trade policy goals. What is...more
The New York Times reported on March 4, 2025, that the Trump administration is aiming to cut half of the Internal Revenue Service’s workforce by the end of the year. The cuts are reportedly across all divisions of the IRS,...more
3/5/2025
/ Audits ,
Corporate Counsel ,
Federal Employees ,
Government Efficiency ,
Internal Revenue Code (IRC) ,
IRS ,
Payment Plans ,
Penalties ,
Tax Debt ,
Tax Liability ,
Tax Reform ,
Tax Refunds ,
Trump Administration
On January 27, 2025, the United States Office of Management and Budget (OMB) issued a pause, set to go into effect at 5 p.m. on January 28, to all “federal financial assistance programs and supporting activities.” The order...more
1/29/2025
/ Compliance ,
Executive Orders ,
Federal Budget ,
Federal Contractors ,
Federal Funding ,
Funding ,
Grants ,
Loans ,
Nonprofits ,
OMB ,
Regulatory Freeze ,
Regulatory Requirements ,
Reporting Requirements
The calendar year 2024 will bring multiple changes to the Texas franchise tax. Taxpayers responsible for entities operating in Texas should be aware of these rules as they plan for their filing and payment obligations in the...more
When the Inflation Reduction Act was passed last year, the legislation included massive funding increases for the Internal Revenue Service (IRS). The initial narratives regarding the funding increases focused primarily on...more
On May 4, 2023, Indiana Governor Eric Holcomb signed legislation (Laws 2023, SB419) that, among other tax changes, included provisions to exempt from income tax nonresidents receiving compensation for employment duties...more
Speaking at a Practicing Law Institute program on April 25, Internal Revenue Service (IRS) lawyer Clifford Warren indicated that the IRS has been using the anti-abuse rule of Treasury Regulation Section 1.701-2 to scrutinize...more
On October 5, 2022, the U.S. Department of the Treasury highlighted six separate notices requesting initial general public comments in response to specific sets of questions pertaining to climate and clean energy tax...more
The Repurchase of Corporate Stock provision of the Inflation Reduction Act of 2022 (IRA), often called the stock-buyback provision, imposes a one percent excise tax on the repurchase or redemption of stock by covered...more
The Inflation Reduction Act of 2022 (IRA) includes increased Internal Revenue Service (IRS) funding in the amount of approximately $80 billion over ten years. According to a Congressional Research Service report, the law...more
On May 18, 2022, in a 153-2 vote, the Massachusetts House of Representatives voted to amend the state’s tax code to provide income tax relief for Massachusetts cannabis businesses. ...more
On Monday, November 15, President Joseph Biden signed the $1.2 trillion Infrastructure Investment and Jobs Act (the Infrastructure Act). Although the legislation contains only a few tax provisions, one surprising change is...more
In 2021 the market for and interest in stablecoins—digital assets designed to maintain a stable value relative to a national currency—has skyrocketed, increasing over 500% with a market cap of approximately $130 billion. The...more
On Friday, November 5, the House of Representatives passed the Bipartisan Infrastructure Framework bill, formally known as the Infrastructure Investment and Jobs Act (the "Act"). Of particular note, the Act contains...more
On June 21, 2021, the U. S. Supreme Court declined to hear Eric D. Speidell, et al., Petitioners v. United States, which sought to overturn the Tenth Circuit Court of Appeals’ 2020 opinion on Speidell v. United States. In...more
On Friday, May 28, 2021, the Biden Administration released its Green Book setting out the President’s revenue and policy proposals. Of particular interest to investors is the administration’s proposal to raise the tax on...more
6/14/2021
/ Capital Gains ,
Estate Planning ,
Green Book ,
Income Taxes ,
Investors ,
Joe Biden ,
Long-Term Investment Funds ,
Personal Property Tax ,
Popular ,
Retroactive Taxes ,
Tax Rates ,
Transfer Taxes
On May 20, 2021, the Department of the Treasury released the American Families Plan tax compliance agenda, detailing the tax compliance initiatives in President Biden’s American Families Plan. The tax compliance agenda is...more