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Internal Revenue Service Trump Administration Tax Credits

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.  
White & Case LLP

New Law Changes IRA Tax Credits - Update

White & Case LLP on

This is an updated version of the alert published on July 4. President Trump signed H.R.1, commonly referred to as the "One Big Beautiful Bill Act" (the "Act") into law on July 4, 2025. Below are our summaries of the...more

Jones Day

The One Big Beautiful Bill Becomes Law: Key Real Estate Tax Changes

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Signed into law on July 4, 2025, the One Big Beautiful Bill Act (the "Act") permanently extends and modifies several cornerstone provisions of the Tax Cuts and Jobs Act of 2017, restores key business incentives, and makes...more

McCarter & English, LLP

One Big Beautiful Bill Act Tax Law Updates – Healthcare Sector

On July 4, 2025, President Trump signed into law the legislation commonly referred to as the “One Big Beautiful Bill Act” (OBBBA), which includes significant changes to Medicaid, Medicare, and Affordable Care Act (ACA)...more

Ballard Spahr LLP

President Trump’s Budget Extends His 2017 Individual Tax Provisions

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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

Husch Blackwell LLP

New Executive Order Targets Wind and Solar Tax Credits

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On July 7, 2025, President Trump signed the executive order “Ending Market Distorting Subsidies for Unreliable, Foreign-Controlled Energy Sources.” The EO directs the Secretary of the Treasury to “strictly enforce” the...more

BakerHostetler

Analysis of the 2025 Federal Tax Changes Under the “One Big Beautiful Bill” Legislation

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The race to remake portions of the Internal Revenue Code (Code) and to prevent expiration of certain Tax Cuts and Jobs Act (TCJA) provisions reached completion with Legislation signed by President Trump on July 4, 2025....more

Brownstein Hyatt Farber Schreck

Taxation & Representation, June 2025

House Passes Reconciliation Package, with Senate Expected to Make Changes: On May 22, the House of Representatives passed H.R. 1, “The One, Big, Beautiful Bill Act,” legislation authorized under the FY 2025 concurrent budget...more

Troutman Pepper Locke

The One Big Beautiful Bill: Initial Analysis of Key Provisions for the Real Estate Industry

Troutman Pepper Locke on

On May 22, 2025, the House of Representatives passed H.R. 1, the budget reconciliation bill known as the One Big Beautiful Bill Act (the Tax Bill). The Tax Bill proposes amendments to the Internal Revenue Code (the Code) that...more

McDermott Will & Schulte

“Big, Beautiful Bill”: Federal Tax Bill Would Restrict the Employee Retention Credit

A sweeping federal tax bill that is currently under consideration in the US House of Representatives contains provisions that would significantly change the administration and enforcement of the Employee Retention Credit...more

Fox Rothschild LLP

White House Proposes $2.5 Billion Cut to IRS Budget for FY2026

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The Trump administration is continuing its offensive against the Internal Revenue Service by proposing a $2.5 billion cut to the agency’s budget for FY2026. In the White House’s “skinny budget” released on May 2, the IRS’s...more

Fox Rothschild LLP

The Presumption of Innocence Podcast: Episode 60 - Enforcement Priorities of the Second Trump Administration: Employee Retention...

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Five years and two presidential administrations later, tensions remain — with the IRS and tax credit applicants — over the pandemic-era Employee Retention Tax Credit (ERC). While the IRS has been continuing a Biden-era...more

Vinson & Elkins LLP

Tax Law (and Controversy) Under the Trump Administration

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As it releases executive orders with unprecedented speed, the Trump administration has begun executing its vision for the United States and the world. This article addresses some of the tax-related topics likely to be the...more

Beveridge & Diamond PC

Key Areas for Regulatory Engagement With the Trump Administration’s Emphasis on Biofuels

Overview - Among its energy policy priorities, early executive orders, and other actions, the Trump administration has reinforced its commitment to expanding the U.S. biofuels sector, which typically has strong bipartisan...more

Goodwin

2025 Budget Resolution Update: Tax Implications

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On February 13, the House Budget Committee, voting 21-16 along party lines (Republicans in favor and Democrats opposed), passed a 2025 budget resolution. The bill does not expressly reference the Tax Cuts and Jobs Act of 2017...more

DarrowEverett LLP

The Forecast Calls For Sun: What New Administration's First 30 Days Means for Solar Industry

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United States policy surrounding renewable energy has fluctuated significantly as administrations change; President Jimmy Carter put solar panels on the White House in 1978, and President Ronald Reagan removed the panels in...more

Bradley Arant Boult Cummings LLP

IRA Update: Recent Regulations Potentially at Risk in Second Trump Administration

With the inauguration of President Donald Trump and the Republican Party taking control of both houses of Congress, the renewable energy industry is faced with great uncertainty, including the potential for immediate impacts...more

Eversheds Sutherland (US) LLP

Expected flurry of executive actions leaves open questions for the energy tax credits under the IRA at the start of Trump’s second...

On January 20, 2025, Donald J. Trump was inaugurated as the 47th President of the United States. As expected, President Trump took several executive actions in his first hours in office. The discussion below considers the...more

Proskauer - Tax Talks

Trump Administration Disavows the OECD Global Tax Deal

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On January 20, 2025, the White House issued a memorandum (the “Memorandum”), announcing that the “Organization for Economic Co-operation and Development (OECD) Global Tax Deal” (the “Global Tax Deal”) has “no force or effect...more

McDermott Will & Schulte

NMTC Extended through 2025 with $5 Billion Annual Appropriations

The New Markets Tax Credit (NMTC) program was extended through 2025 with a $5 billion annual appropriation as part of the Consolidated Appropriations Act, 2021, signed by President Trump on December 28, 2020. Before the...more

Schwabe, Williamson & Wyatt PC

Consolidated Appropriations Act, 2021: Tax Update

On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (the “Act”). The Act, which includes the COVID-19-related Tax Relief Act of 2020 and the Taxpayer Certainty and Disaster Tax...more

Bradley Arant Boult Cummings LLP

How to Provide Employees $26,250 in Nontaxable Student Loan Repayment Assistance

The Taxpayer Certainty and Disaster Tax Relief Act, recently passed as part of the “Consolidated Appropriations Act, 2021,” has significantly extended the tax exclusions for employer-paid student loan repayment assistance...more

Brooks Pierce

Mandatory COVID Leave Expires, but Tax Credits for Providing COVID Leave are Extended

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Starting Jan. 1, 2021, employers subject to the Families First Coronavirus Response Act (FFCRA) are no longer required to provide employees with COVID-related paid leave, but they may do so in some situations and still...more

Schwabe, Williamson & Wyatt PC

Congress Makes Additional Paid Family Leave and Paid Sick Leave Optional

The dust has now settled on the new stimulus bill signed by President Trump on December 27, 2020. The changes to the Family First Coronavirus Recovery Act (“FFCRA”) was buried in over 5000 pages of text and provides a choice...more

Pillsbury Winthrop Shaw Pittman LLP

Year-End Stimulus Bill Permits, but Does Not Mandate, Extension of FFCRA Leave

Late on December 27, 2020, President Trump signed into law an omnibus stimulus bill. The new legislation contained much needed extensions of unemployment benefits that have supported many Americans who have experienced...more

Verrill

FFCRA Leave Extended In New COVID-19 Relief Taking Care of HR Business

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Congress’s 5593-page Consolidated Appropriations Act, passed by the Senate on December 21, 2020, and signed by the President last night (December 27, 2020), includes an extension of employer tax credits for leave provided...more

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