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Proposed Legislation › Government Agencies › Income Taxes

Cooley LLP

Treasury Department Asks Congress to Drop Proposed Legislation to Increase Tax Rates on Non-US Investors From Certain Countries

Cooley LLP on

On May 22, the US House of Representatives passed the “One Big Beautiful Bill Act” (OBBBA). Among other things, the House bill proposed to add Section 899 to the Internal Revenue Code, which would have increased US tax rates...more

Fox Rothschild LLP

Billy Long Sworn in as 51st IRS Commissioner

Fox Rothschild LLP on

Former member of Congress and professional auctioneer Billy Long has been formally sworn in as Commissioner of the Internal Revenue Service. Following lengthy delays during his nomination process, Long was confirmed by the...more

Akerman LLP - SALT Insights

What’s Next for the Evolution of Public Law 86-272?

Akerman LLP - SALT Insights on

For over 65 years, Public Law 86-272 has dictated a state’s ability to assert income tax on an out-of-state business. While the 1959 federal law predated the emergence of e-commerce and digital services and could not have...more

Brooks Pierce

Brooks Pierce Capital Dispatch: House Passes Budget and New Helene Recovery Bill, Senate Confirms DIT Secretary

Brooks Pierce on

House Passes Budget Bill - The NC House on Thursday passed the biennial budget bill (S 257) by a vote of 86 to 20. The vote was bipartisan with 25 Democrats joining 61 Republicans in supporting the bill. This action...more

McDermott Will & Schulte

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

McDermott Will & Schulte on

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

Eversheds Sutherland (US) LLP

House tax bill proposes changes to information reporting rules

Eversheds Sutherland (US) LLP on

On May 14, 2025, the House Ways and Means Committee approved the “One, Big, Beautiful Bill,” containing the tax provisions destined for the budget reconciliation package. Several of the bill’s provisions would affect...more

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