News & Analysis as of

Internal Revenue Service Tax Reform Property Tax

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Greenberg Glusker LLP

How about: Shifting Tax Strategies: What Businesses Need to Know for 2025

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Corporate & Tax Partner Michael Wiener shared his expertise on how businesses, CFOs, and financial professionals are adapting to the evolving economic landscape and shifting tax strategies with the Los Angeles Business...more

Womble Bond Dickinson

Review of 2022 Arizona Tax Highlights

Womble Bond Dickinson on

ARIZONA TO IMPLEMENT 2.5% FLAT TAX AHEAD OF SCHEDULE - Governor Doug Ducey announced that Arizona will implement its new 2.5% flat income tax rate on January 1, 2023, a full year ahead of schedule. According to Gov. Ducey,...more

Verrill

Connecticut Reacts to Federal Tax Law Reform Changes

Verrill on

The sweeping changes created by the federal Tax Cuts and Jobs Act (“TCJA”) has resulted in some states enacting their own legislation in response to the federal tax reform. On May 31, 2018, Connecticut signed into law a bill...more

Bradley Arant Boult Cummings LLP

Tax Cuts and Jobs Act Taxes Some Incentives - ACREL News & Notes

Section 118 provides “[i]n the case of a corporation, gross income does not include any contribution to the capital of the taxpayer.” The regulations promulgated under Section 118 under prior law provide, with respect to...more

Holland & Knight LLP

Six Tips for Tribal Governments to Reduce Tribal Member Taxes in 2018

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• President Donald Trump on Dec. 22, 2017, signed the Tax Cuts and Jobs Act, the first major overhaul of the U.S. tax system in over 30 years. • Although few of the enacted provisions are specific to Indian Country, several...more

Holland & Knight LLP

The New Tax Law: Impact on Illinois Local Governments

Holland & Knight LLP on

The new tax reform law – the Tax Cuts and Jobs Act – has been extensively reported in a variety of media outlets. Most discussions focus on the reduction in individual and corporate tax rates, the availability of deductions...more

Akerman LLP - SALT Insights

Tax Reform: With Massive Overhaul Now Law, Prepayment of Property Tax May Benefit New York Property Owners

On December 22, 2017, President Donald J. Trump signed the Tax Cuts and Jobs Act (Act), which beginning in 2018 caps at $10,000 the allowable deduction for payment of state and local income, sales, and property taxes. While...more

Lowndes

IRS Announces Property Tax Prepayments May Not Be Deductible

Lowndes on

One of the outstanding questions from the new tax bill is whether individuals can prepay their 2018 property taxes in advance to claim the full deduction in 2017. The IRS announced in an advisory late Wednesday that prepaying...more

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