Business Taxes, Partnerships, Tax Credits

What OBBBA Means for Businesses: Key Takeaways

McCarter & English, LLP on 8/21/2025

On July 4, 2025, President Trump signed into law the legislation commonly referred to as the One Big Beautiful Bill or OBBBA, which includes several changes to the federal income tax treatment of trade or business activities....more

Business Tax Law Provisions of the OBBBA

Offit Kurman on 7/9/2025

The business tax provisions of the One Big Beautiful Bill Act (OBBBA), as signed by the president on July 4, reflect sweeping changes aimed at incentivizing small businesses, domestic investment, and manufacturing. Outlined...more

"The One Big Beautiful Bill" Key Tax Takeaways

Baker Botts L.L.P. on 6/2/2025

On May 22, 2025, the House passed the legislation entitled “The One Big Beautiful Bill” (the “BBB”). The BBB makes permanent, extends and, in certain cases, modifies, a number of provisions from the 2017 Tax Cuts and Jobs Act...more

Weekly IRS Roundup December 9 – 13, 2019

McDermott Will & Schulte on 12/18/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 9 – 13, 2019. December 10, 2019: The IRS issued a notice providing that the requirement...more

Proposed Tax Regulations Address International Aspects of the New Partnership Audit Regime

Alston & Bird on 12/15/2017

We are about to witness an almost unprecedented centralized partnership audit regime that takes full effect for taxable years starting on or after January 1, 2018, as adopted in late 2015 by Section 1101 of the Bipartisan...more

IRS Revises Historic Tax Credit Revenue Procedure

Akin Gump Strauss Hauer & Feld LLP on 1/15/2014

Revenue Procedure 2014-12 provides a safe harbor for historic tax credit (i.e., the Section 47 rehabilitation tax credit) partnership transactions. On January 8, the IRS issued a revised version of it that provides a...more