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Income Taxes › New Rules

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... more +
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 -
Fisher Phillips

Employer Cheat Sheet for Workplace Laws Taking Effect July 1

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Most employers are prepared for new laws at the start of each year – but did you know that a heap of new workplace laws take effect at the halfway point? Here’s your employer cheat sheet to prepare for July 1 effective dates…...more

Williams Mullen

[Event] 2025 Winter Tax Forum - February 6th, Richmond, VA

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Join Williams Mullen for our hybrid 2025 Winter Tax Forum on Thursday, February 6th. Our speakers, Anna Derewenda, Kyle Wingfield, Kevin Bender, and Patrick Carr will provide an update on the following: - New Basis...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - IRS Clarifies Emergency Distributions Tax Exceptions

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On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt discusses the new IRS guidance regarding certain exceptions to the 10% early distribution tax under IRC 72(t). He will share background on emergency...more

McDermott Will & Schulte

New From January 2024 | Participation Exemption for European Corporations on Disposal of Shareholdings

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The Italian government recently approved a draft 2024 budget law which provides for the extension of the domestic participation exemption regime on disposal of shareholdings (PEX) to those non-resident corporations that: (i)...more

Bowditch & Dewey

I Sold an Extra Concert Ticket Online – Do I Have to Report It on My Taxes?

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A friend backs out of the long-planned group outing to see Taylor Swift’s opening night of “The Eras Tour” in Glendale, Arizona. Rather than have the ticket go unused you decide to sell the extra ticket online. Do you have to...more

K&L Gates LLP

HUB Talks: Sustainable Outlook: The U.S. Tax Credit Revolution

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In a special episode, Elizabeth Crouse, tax lawyer and practice group coordinator of the K&L Gates Power group, discusses the winners, losers, and many other highlights of the new U.S. federal income tax credit rules just...more

Pillsbury Winthrop Shaw Pittman LLP

House Ways and Means Committee Releases Tax Plan

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Plan focuses on eliminating certain available estate planning opportunities and increasing rates for corporations and high net worth individuals. The proposed tax plan from House Ways and Means Committee seeks to eliminate...more

BakerHostetler

[Podcast] Deep in the Heart of Updated Texas Franchise Tax Sourcing Rules

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In mid-January, the Texas Comptroller issued controversial amendments to its franchise (margin) tax apportionment sourcing rules. Are the rules an administrative drift towards market-based sourcing? Matt Hunsaker breaks down...more

Gould + Ratner LLP

New Stimulus Allows Faster Depreciation of Certain Residential Rental Property Held by Electing Real Property Trades or Businesses

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The stimulus package passed last month may help certain Electing Real Property Businesses by including a provision that allows a shorter depreciation period for residential rental property acquired prior to January 1, 2018. ...more

Foster Garvey PC

Get Ready – The Internal Revenue Service May Be Knocking on Partnership Doors Next Year

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On November 2, 2015, the Bipartisan Budget Act (“Act”) was signed into law by President Barack Obama. One of the many provisions of the Act significantly impacted: (i) the manner in which entities taxed as partnerships are...more

McDermott Will & Schulte

Proposed Regulations Would Conform Subpart F High-Tax Exception to GILTI High-Tax Exception

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On July 20, 2020, the US Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued proposed regulations (REG-127732-19) (the 2020 Proposed Regulations) that would conform the historic Subpart F...more

Bowditch & Dewey

IRS Discusses New IRS Return Examination Campaigns

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In remarks at the NYU Tax Controversy Forum in June, the IRS discussed two new IRS return examination campaigns. Ms. Tamera Ripperda, the commissioner of the Tax Exempt and Government Entities (TEGE) Division who previously...more

Foster Garvey PC

The Oregon Department of Revenue Is Hitting the Road Again – the CAT TourContinues

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The CAT Tour - As previously discussed, late last year, the Oregon Department of Revenue (the “Department”) conducted several town hall meetings with taxpayers and tax practitioners across the state to discuss the...more

Foster Garvey PC

Temporary Rules Keep Pouring in – the DOR Continues Its Efforts to Provide Guidance Relative to the CAT

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A dog will immediately respond to you when you call out. On the other hand, when you call out to a cat, the cat will take a message and promise to get back to you later. This is not the case with the Corporate Activity Tax...more

Foster Garvey PC

Continue to Keep Your Eyes Peeled and Your Ears Tuned-In for CAT Developments—They Are Rolling In

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Recent Announcements - The Oregon Department of Revenue (the “Department”) has made several recent announcements regarding Oregon’s new Commercial Activity Tax (the “CAT”). In an email dated December 4, 2019, the...more

Katten Muchin Rosenman LLP

IR35 — Incoming Changes Present New Compliance Burdens for Employers

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Key Points - The off-payroll rules (IR35) aim to stop individuals from avoiding employee status for tax purposes (and thereby reducing the income tax and National Insurance Contributions (NICs) payable) by supplying their...more

McDermott Will & Schulte

UK Tax Changes Shift Worker Classification Burden to Clients

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The UK Government has con?rmed that it will extend to the private sector tax rules designed to target tax avoidance by contractors who operate through an intermediary personal service company (PSC). The UK Government has...more

McAfee & Taft

Every action has a reaction, even in the tax world - Gavel to Gavel

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The Tax Cuts and Jobs Act of 2017 limited the state and local taxes paid deduction available to individual taxpayers to $10,000. The deduction is most notably taken by Oklahomans on their federal tax return to deduct state...more

Foster Garvey PC

The CAT Continues to Be on the Prowl – the Oregon Department of Revenue’s Town Hall Meetings Roadshow Made It to Portland

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We have been covering Oregon’s new Corporate Activity Tax (the “CAT”) over the past few months. As previously discussed, the Oregon Department of Revenue (the “Department”) has been conducting town hall meetings with...more

Buckingham, Doolittle & Burroughs, LLC

LLC Operating Agreements And Partnership Agreements Should Be Amended To Address New Law

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If you signed an LLC operating or partnership agreement prior to January 1, 2018, it may need to be amended to accommodate a significant new rule regarding taxation of partnerships. Effective for tax years beginning after...more

McGuireWoods LLP

Nonprofits Seeking to Avoid New Parking Tax Must Make Changes Soon

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Thousands of nonprofits that provide parking benefits for their employees are subject to a new income tax on those benefits and have only weeks to avoid or minimize that tax liability for 2018. ...more

Bracewell LLP

Bracewell Tax Report - January 2019

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The Bracewell Tax Report is a periodic publication focused on developments in federal income tax law, including the recently enacted Tax Cuts and Jobs Act, with emphasis on how such developments impact the energy, technology...more

Fenwick & West LLP

The New Foreign Tax Credit Proposed Regulations – An Executive Summary

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Released on November 30, 2018, the foreign tax credit proposed regulations provide a comprehensive new framework for calculating the foreign tax credit in light of several changes made by the Tax Cuts and Jobs Act (TCJA or...more

Akin Gump Strauss Hauer & Feld LLP

Swiss Tax Law Changes: New Withholding Tax Rules

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• Under Swiss law, Swiss employers must levy an employment withholding tax on the salary received by foreign nationals who do not hold a permanent residence permit. • Only taxpayers whose salary exceeds a certain amount...more

Fenwick & West LLP

Impact of Tax Reform on the Purchase and Sale of Controlled Foreign Corporations — Selected Considerations

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The application of §1248 and §338(g) in the context of the purchase or sale of a controlled foreign corporation (CFC) has long been one of the most complex areas of the tax code. The recently enacted tax reform act — herein,...more

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