GILTI tax, SALT, Tax Planning

Major U.S. Tax Legislation Enacted Without Retaliatory Tax Provision

Davies Ward Phillips & Vineberg LLP on 7/21/2025

This bulletin follows our previous update on evolving U.S. tax reform, which highlighted the competing House and Senate proposals, particularly the introduction and scope of proposed Section 899 targeting "unfair foreign...more

Top 10 Biggest Business Tax Breaks (and Hits) in the One Big Beautiful Bill Act

Frost Brown Todd on 7/17/2025

With a name like the One Big Beautiful Bill Act (OBBBA), you know two things right away: (1) it’s a mouthful, and (2) you’re going to have to wade through a lot to find the useful parts. Fortunately, two tax lawyers already...more

What’s in the Newly Enacted One Big Beautiful Bill Act

Kelley Drye & Warren LLP on 7/14/2025

On July 4, 2025, President Trump signed into law the “One Big Beautiful Bill Act” (the “2025 Act”). The Act makes permanent some provisions originally enacted in 2017 as part of the Tax Cuts and Jobs Act (the “2017 Act”),...more

Senate Passes Inflation Reduction Act

Cadwalader, Wickersham & Taft LLP on 8/11/2022

Below is a summary of the tax provisions in the Inflation Reduction Act of 2022 (the “IRA”), as passed by the Senate, that are likely to be of most interest to U.S. corporate taxpayers, financial institutions, hedge funds,...more

The Proposed Build Back Better Act Moves Forward After the House Passes a Revised Version of the Bill

Polsinelli on 12/1/2021

Overview - Over the past year, several tax law changes have been proposed by the Biden administration and, in September 2021, draft legislative language was circulated, which set forth proposed changes to the Internal...more

A Look at the House Ways and Means Committee’s Tax Proposals

Cadwalader, Wickersham & Taft LLP on 9/30/2021

I. Introduction - On September 15, 2021, the House Ways and Means Committee approved tax provisions for proposed inclusion in the Build Back Better Act (the BBBA). If enacted in their current form, the proposals would,...more

Pending Changes to Illinois Tax Laws Include SALT Workaround

Gould + Ratner LLP on 6/11/2021

Illinois lawmakers have approved legislation that is both good news and bad news for Illinois taxpayers. The good news is that, if approved by Gov. Pritzker, Illinois taxpayers will be able to take advantage of a workaround...more

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