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Tax Updates

Read need-to-know updates, commentary, and analysis on Tax issues written by leading professionals.
Eversheds Sutherland (US) LLP

Low Hanging Fruit: IRS Releases Rev. Proc. 2025-28 Providing Procedural Guidance for Domestic R&D Costs While Taxpayers Await...

On August 28, 2025, the Internal Revenue Service (IRS) and Department of the Treasury (Treasury) released Rev. Proc. 2025-28 providing procedural guidance for taxpayers seeking to take advantage of the One Big Beautiful Bill...more

Mayer Brown Free Writings + Perspectives

What the New Foreign Entity Rules Mean for Debt Financing When Clean Energy Tax Credits Are at Play

The U.S. government has been steadily tightening rules relating to who can benefit from clean energy incentives.  The One Big Beautiful Bill Act (OBBBA) is the latest step, and it makes one thing crystal clear:  if your...more

Littler

Policy Week in Review – September 2025

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Trump Administration Releases Spring Unified Agenda of Regulatory and Deregulatory Actions On September 4, 2025, the administration released its long-awaited 2025 Spring Regulatory Agenda, which lists the aspirational...more

Morgan Lewis

US Department of Justice Establishes Trade Fraud Task Force to Counter Tariff Evasion

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In late August 2025, the US Department of Justice announced the formation of a cross-agency Trade Fraud Task Force that will specialize in tariff-related investigations. DOJ positioned the new task force as an extension of...more

Pillsbury Winthrop Shaw Pittman LLP

California Updates Tax Regulations on Technology Transfer Agreements

The California Department of Tax & Fee Administration has proposed changes to simplify determining when tangible personal property has been transferred for sales tax calculations....more

Hone Maxwell

The Benefits of Using Both a CPA and a Tax Attorney

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A frequent question we get from clients and colleagues is if a tax attorney or certified public accountant (CPA) — or both — are needed. ...more

Jones Day

The Climate Report - Third Quarter 2025

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Both Convergence and Divergence Seen in Emerging State Climate - Disclosure Bills A wave of climate-related disclosure bills in California, New York, Colorado, New Jersey, and Illinois share a common architecture yet...more

Barnea Jaffa Lande & Co.

New Voluntary Disclosure Procedure – Effective Until August 31, 2026

On August 25, 2025, the Israel Tax Authority (ITA) published a new directive entitled “Voluntary Disclosure Procedure – Temporary Order.” The aim of this procedure is to encourage both Israeli and foreign residents who have...more

Holland & Knight LLP

Converting from an S Corporation to Qualified Small Business Stock

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The One Big Beautiful Bill Act (OBBB) has spurred even more interest among businesses that may qualify for the tax benefits associated with qualified small business stock (QSBS), including businesses that currently are...more

Jones Day

Transactional Analysis: IRA Rollback Redirects Venture Capital in Climate Technology

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The Inflation Reduction Act ("IRA") functioned as the cornerstone of U.S. clean-technology capital investments. From its enactment in 2022 through late 2024, the statute's long-dated production and investment tax credits,...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner, September/October 2025

A well-designed estate plan helps cement your legacy, but that doesn’t mean it’s set in stone. Changing family circumstances, fluctuating financial markets, health issues and other factors can impact the effectiveness of your...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, Sept. 2025

Congress Weighs FY2026 Funding for IRS, OECD and DOJ Tax Division: As Congress returns this week, lawmakers face a four-week window to resolve differences over government funding for fiscal year 2026 (FY2026). This includes...more

Eversheds Sutherland (US) LLP

Tax Bytes: Week of September 1, 2025

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

DLA Piper

REIT Tax News - September 2025

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Welcome to the September 2025 issue of REIT Tax News. Below, we summarize five key developments impacting REITs this past quarter....more

Holland & Knight LLP

Beginning of Construction for Solar and Wind Facilities: What's Changed?

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The IRS on Aug. 15, 2025, released Notice 2025-42, which provides guidance on how taxpayers can establish the "beginning of construction" (BOC) of a wind or solar facility for purposes of determining whether such facility is...more

Weintraub Tobin

Part 2: The OBBBA Tax Series–What Nonprofits Need to Know About the Excise Tax

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This is part 2 of Weintraub’s series covering the major changes from the OBBBA. This follows our initial article where we discussed the no tax on tips and overtime provisions, the SALT deduction, and the PTET Credit. These...more

Proskauer - Employee Benefits & Executive...

FICA Tax: Navigating the Nonqualified Deferred Compensation Special Timing Rule

Compensation is generally subject to federal income tax and FICA tax when compensation is actually paid to an employee. However, nonqualified deferred compensation (NQDC) may be subject to FICA taxation before federal income...more

Troutman Pepper Locke

Drawback Claims Are Increasingly a Boon for Cigarette Importers

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Importers of smoking tobacco products, particularly cigarettes, are increasingly saving millions in federal excise taxes by employing a refund mechanism known as the “drawback.”...more

Jackson Lewis P.C.

The Federal Tax Deductions for Tips and Overtime Pay: Opportunities for Restaurants Employers

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The One Big Beautiful Bill Act contains new, temporary laws, including available tax deductions for earnings on tips for tipped employees and overtime wage earnings of all employees. ...more

Rivkin Radler LLP

Gifting Qualified Small Business Stock – Can You “Stack” the Section 1202 Odds In Your Favor?

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C Corp - Imagine a closely held and growing start-up business (“Corp”) that was recently incorporated under state law and, so, is treated as a regular C corporation for purposes of the federal income tax. Thus, Corp will pay...more

Vinson & Elkins LLP

Planning for IRS Audits in an Era of Uncertainty

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In its ongoing crusade against so-called “basis-shifting” transactions, the Internal Revenue Service has created widespread uncertainty regarding the tax treatment of routine transactions. For example, last year, the IRS...more

Goodwin

Privatizing Public REITs: Strategic Considerations and Legal Insights

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The take-private REIT and Real Estate M&A market has remained active throughout the first half of 2025 as increased and persistent volatility in the stock market, coupled with private funds and others having vast amounts of...more

Structured Consulting

The Big Beautiful Bill: What Plaintiff’s Attorneys Need to Know

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The One Big Beautiful Bill Act (“BBB”) made permanent several temporary provisions of the Tax Cuts and Jobs Act of 2017 (“TCJA”), while also introducing changes to numerous items related to individual income tax. Several...more

Buchalter

Florida House Bill 7031 – Business Rent Tax Repeal

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Business Rent Tax is the term used in the State of Florida under Title XIV, Chapter 212, Section 031, in which Landlords of commercial property are taxed on “renting, leasing, letting or granting a license for the use of any...more

Holland & Knight LLP

Building Your Future at Holland & Knight: Jennifer Karpchuk's Move to Grow the State and Local Tax Practice

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State and Local Tax (SALT) Team Co-Chair Jennifer Karpchuk shares why she joined Holland & Knight and what she sought in a lateral move: a large platform and a collaborative culture. She notes the firm offers extensive...more

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