News & Analysis as of August 19, 2025

Estate Tax

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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 -

Breaking Down the “One, Big, Beautiful” Tax Bill: Take One

Nutter McClennen & Fish LLP on 5/19/2025

On May 12, the Republican majority leadership in the House of Representatives released for consideration its tax and spending reconciliation legislation, called the “One Big, Beautiful Bill” (the “Bill”). This major piece of...more

Big Potential Tax Changes on the Horizon for Clients

Goulston & Storrs PC on 9/28/2021

The U.S. House Ways and Means Committee released proposed budget reconciliation legislation on September 13, 2021. The bill still must complete many steps in the legislative process – including passage by the full House of...more

Tax Alert: The Implications of House Democrats’ Tax Proposal

Miles & Stockbridge P.C. on 9/22/2021

Big tax changes are on the way! President Biden, the House, and the Senate all seem to have their own agenda, but the proposal introduced by the House Ways and Means Committee (the “Proposal”) is a good starting point for...more

Pending Tax Changes: House Ways and Means Committee Tax Proposals

Bodman on 9/21/2021

On September 13, 2021, the U.S. House of Representatives Ways and Means Committee released draft budget reconciliation legislation proposing a number of significant tax changes for businesses and for individuals....more

Illinois Fiscal Year 2020 Income and Franchise Tax Changes

McDermott Will & Schulte on 6/14/2019

The Illinois General Assembly enacted a number of new tax measures in a flurry of activity at the end of its legislative session. Some of the changes are taxpayer friendly and others are not. Unlike the no-deal chaos of past...more

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