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Internal Revenue Service Tax Reform SALT

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.  
Hughes Hubbard & Reed LLP

Trump Law’s Estate Tax Exemption Is a Boon for Wealth Planning

President Donald Trump’s massive tax-and-spending package requires attention from both individuals and estate planners to advance their estate and income tax planning objectives. Originally Published by Bloomberg Law. ...more

Royer Cooper Cohen Braunfeld LLC

One Big Beautiful Bill Expands Key Tax Incentives Including Section 1202 Qualified Small Business Stock and Qualified Opportunity...

The reconciliation bill, known as the “One Big Beautiful Bill” (the “BBB”), was recently signed into law on July 4th. The BBB, among many other things, made significant changes in tax law, building on the foundations created...more

Ballard Spahr LLP

President Trump’s Budget Extends His 2017 Individual Tax Provisions

Ballard Spahr LLP on

President Trump signed into law what is commonly referred to as the One Big Beautiful Bill Act (OBBBA), extending provisions from the Tax Cuts and Jobs Act of 2017 otherwise set to expire at the end of this year. The new...more

Venable LLP

SALT Alert: Senate Tax Bill Targets SALT Cap Workarounds, Including New Limits on PTET Deductions

Venable LLP on

On June 16, 2025, the Senate Finance Committee released a draft package that includes a major provision aimed at curbing the use of state pass-through entity taxes (PTETs) to bypass the federal $10,000 cap on state and local...more

Pillsbury Winthrop Shaw Pittman LLP

Parallel Play: The U.S. Senate Finance Committee Releases Its Version of the “Big, Beautiful Bill”

When toddlers engage in parallel play, the children play adjacent to each other, but do not try to influence one another’s behavior. Apparently, parallel play can extend well into adulthood and to the writing of federal...more

Eversheds Sutherland (US) LLP

SALT Scoreboard - Quarter 4, 2024

This is the fourth edition of the Eversheds Sutherland SALT Scoreboard for 2024. Since 2016, we have tallied the results of what we deem to be significant taxpayer wins and losses and analyzed those results. Our entire SALT...more

Proskauer - Tax Talks

Summary of Tax Proposals in Leaked Document Detailing Policy Proposals

Proskauer - Tax Talks on

On January 17, 2025, news sources reported that Republican members of Congress circulated a detailed list of legislative policy options, including tax proposals. This blog post summarizes some of the tax proposals and...more

Bradley Arant Boult Cummings LLP

Guest notebook: Bradley partners offer predictions for spring Alabama tax legislation

Each year we are asked to predict the business tax-related bills that died in the last legislative session but will likely be re-introduced in one form or another, as well as the tax issues that we expect to see addressed for...more

Pillsbury Winthrop Shaw Pittman LLP

Senate Democrats Announce Breakthrough Bill on Energy, Climate, Tax Reform and Prescription Drug Pricing

The Inflation Reduction Act of 2022 would constitute a historic investment in the U.S. clean energy industry. If passed, the bill would be the biggest and most significant climate and energy bill ever passed by Congress....more

Sands Anderson PC

Virginia’s New Elective PTE Tax and SALT Cap Workaround

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Elective PTE Income Taxes Payable to Virginia - Beginning July 1, 2022, Virginia’s new law establishing a workaround for the federal income tax limitation on deductions for state and local taxes (SALT) became effective....more

McDermott Will & Schulte

[Webinar] Tax in the City® - November 2nd, 11:30 am - 1:00 pm PDT

McDermott Will & Schulte on

Recent tax proposals may bring significant changes to the US federal, international and state and local tax landscape. Join us for our first nationwide Tax in the City® program for a discussion on the key proposed changes...more

Proskauer - Tax Talks

Tax Provisions of the American Families Plan

Proskauer - Tax Talks on

On Wednesday, April 28th, the White House announced the American Families Plan, the “human capital” infrastructure proposal. The American Families Plan would spend $1.8 trillion, including $800 billion in tax cuts over ten...more

Goulston & Storrs PC

The New Administration Brings Several Potential Tax Law Changes

Goulston & Storrs PC on

A new Presidential administration and Congress always bring with them the potential for change, and this is again the case.  Joe Biden and his party made a series of tax law proposals throughout the presidential campaign...more

Sullivan & Worcester

Key Tax Provisions in the Massachusetts FY21 Budget

Sullivan & Worcester on

On December 11, 2020, Massachusetts Governor Charlie Baker signed the Commonwealth’s FY21 budget into law. While the $45.9 billion budget does not raise taxes, it includes a number of significant tax provisions summarized...more

Morgan Lewis

State and Local Tax Responses to Covid-19 (UPDATED)

Morgan Lewis on

Alabama - The Alabama Commissioner of Revenue has issued a series of orders. On March 18, 2020, the commissioner ordered that late payment penalties are waived for small retail businesses whose monthly retail sales during...more

Clark Hill PLC

Window On Washington - Vol. 3, Issue 44

Clark Hill PLC on

Outlook for This Week in the Nation’s Capital - Recess. Congress is in recess until December 2 for the Thanksgiving holiday. Clark Hill wishes our readers a Happy Thanksgiving....more

Brownstein Hyatt Farber Schreck

Taxation & Representation - June 2019 #3

TAX TIDBIT - Five Takeaways and a Falsehood: Test Your Knowledge of the Ways and Means Tax Markup - On Thursday, the House Ways and Means Committee marked up and approved the following four bills, largely along...more

Brownstein Hyatt Farber Schreck

Taxation & Representation - June 2019 #2

Well, they did it. Despite lingering resentment between Democrats and Republicans after the passage of the Tax Cuts and Jobs Act (P.L.115-97), Congress was able to pass tax legislation that was overwhelmingly supported by...more

Ballard Spahr LLP

IRS Finalizes Regulations Disallowing Workarounds for State and Local Taxes

Ballard Spahr LLP on

The IRS recently published Final Regulations and Notice 2019-12 largely blocking state efforts to circumvent limitations on deductions for state and local taxes. (See our alert on the Proposed Regulations, issued in August...more

Foodman CPAs & Advisors

Due Diligence is necessary for Taxpayers to have the Right TAX Representative

As 2018 comes to an end, many Taxpayers are wondering about their tax reporting situation under the Tax Cut Jobs Act. Taxpayers ought to be asking themselves if their Tax Representative understands...more

Brownstein Hyatt Farber Schreck

Taxation & Representation - September 24, 2018

TAX TIDBIT - With the midterm elections just weeks away, both parties have been hitting the campaign trail hard, strutting their stuff to win over voters. ...more

McGuireWoods LLP

New Tax Regulations Limit Deductions for Gifts That Generate State Tax Credits

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The Treasury Department has proposed new regulations that may hamper numerous state programs offering state income tax credits in return for charitable contributions. Designed to thwart recent state efforts to circumvent new...more

Clark Hill PLC

Window On Washington - Vol. 2, Issue 29

Clark Hill PLC on

Outlook for This Week in the Nation's Capital - Minibus on Senate Floor. The Senate is expected to take up a four-bill spending package next week. ...more

Harris Beach Murtha PLLC

New York State among Four States to Sue Federal Government over State and Local Taxes

Earlier today July 17, 2018 New York State was among four states to sue the federal government over State and Local Tax (SALT) deductions being capped at $10,000 as part of recent federal tax law changes. Joining New York in...more

Foodman CPAs & Advisors

Taxpayers ought to wait for IRS guidance before strategizing their SALT

On May 23, 2018, IRS released Notice 2018-54 to inform Taxpayers that IRS, in the near future, will be releasing proposed regulations, to assist Taxpayers with understanding the relationship between federal charitable...more

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