News & Analysis as of August 28, 2025

Proposed Regulation

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

Proposed Rule Modifies Timing of "Hot Asset" Reporting

Holland & Knight LLP on 8/22/2025

Generally, gain or loss on the sale or exchange of a partnership interest is treated as capital gain or loss except to the extent of so-called "hot assets." Gain attributable to hot assets – generally unrealized receivables...more

Weekly IRS Roundup June 29 – July 3, 2020

McDermott Will & Schulte on 7/8/2020

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 29, 2020 – July 3, 2020... June 29, 2020: The IRS issued a news release announcing that...more

Weekly IRS Roundup June 3 – 7, 2019

McDermott Will & Schulte on 6/10/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 3 – 7, 2019. June 4, 2019: The IRS issued a news release noting that it granted tax relief...more

Weekly IRS Roundup April 8 – 12, 2019

McDermott Will & Schulte on 4/15/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 8 – 12, 2019. April 8, 2019: The IRS issued a news release warning taxpayers against...more

Remember June 30 Deadline for Filing Moody Refund Claims - State & Local Tax Alert: Alabama Edition

Bradley Arant Boult Cummings LLP on 6/12/2018

As previously reported, during the recent legislative session the Alabama Legislature finally resolved the so-called “Moody Issue,” named after the taxpayer victory in Moody v. Alabama Department of Revenue, regarding the...more

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