On January 17, 2024, Senate Finance Committee Chairman Ron Wyden (D-Ore.) and House Ways and Means Committee Chairman Jason Smith (R-Mo.) released a bill, the “Tax Relief for American Families and Workers Act of 2024”...more
On December 27, 2022, the Internal Revenue Service (“IRS”) and the U.S. Department of the Treasury (the “Treasury”) released Notice 2023-2 (the “Notice”), which provides guidance regarding the application of the 1% excise tax...more
On October 23, 2019, Governor Andrew M. Cuomo, signed legislation incorporating the federal Johnson Amendment into New York law. As previously described, the Johnson Amendment denies tax-exempt status under section 501(c)(3)...more
11/12/2019
/ 501(c)(3) ,
First Amendment ,
Free Speech ,
Governor Cuomo ,
IRS ,
Lyndon B Johnson ,
New Legislation ,
Political Campaigns ,
Religious Institutions ,
Tax Exempt Entities ,
Tax Exemptions ,
Trump Administration
On January 18, 2019, the U.S. Department of Treasury (“Treasury”) and the Internal Revenue Service (the “IRS”) released final regulations (the “Final Regulations”) regarding the “passthrough deduction” for qualified trade or...more
3/11/2019
/ Business Ownership ,
Final Rules ,
IRS ,
Pass-Through Entities ,
Proposed Regulation ,
Qualified Business Income ,
S-Corporation ,
Section 199A ,
Sole Proprietorship ,
Specified Service Trade Or Business (SSTB) ,
Tax Deductions ,
UBIA
On August 8, 2018, the U.S. Department of the Treasury (the "Treasury") and the Internal Revenue Service (the "IRS") issued proposed regulations regarding the "pass-through deduction" for qualified trade or business income...more
On June 13, 2017, the U.S. Internal Revenue Service (“IRS”) and the Department of the Treasury (“Treasury”) re-released proposed regulations (REG 136118-15) that provide guidance on the new centralized partnership audit...more