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Brownstein Hyatt Farber Schreck

Taxation & Representation, July 2025 #3

Speaker Johnson Kicks Off Discussions for Reconciliation 2.0: House Republicans are laying the groundwork for a second reconciliation bill this fall that aims in part to revive key provisions excluded from the One, Big,...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, July 2025 #2

Passthrough Deduction Eyed for Bigger Boost in Future Bill: House Republicans are weighing the possibility of a second major tax package following the recent enactment of their One, Big, Beautiful Bill Act (OBBBA, Public Law...more

Jenner & Block

Client Alert: “Trump Accounts” – Tax-Advantaged Savings Accounts for Children

Jenner & Block on

On Friday, July 4, President Trump signed into law the One Big Beautiful Bill Act (H.R. 1) (“Big Beautiful Bill”) after narrow approval from both houses of Congress. The legislation extends the Tax Cuts and Jobs Act and...more

Conn Maciel Carey LLP

The One Big Beautiful Bill’s Overtime and Tax Provisions – Employer Consequences

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As we await the House of Representatives’ vote on the One Big Beautiful Bill, let’s highlight two key provisions that may soon impact employers and employees alike. The Senate bill under consideration before the House of...more

Proskauer Rose LLP

Wealth Management Update - July 2025

Proskauer Rose LLP on

The July 2025 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5.00%, which is the same as the June 2025 Section 7520 rate...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

Eversheds Sutherland (US) LLP

Tax Bytes: Week of June 23, 2025

Welcome to this week’s edition of Tax Bytes. Our team of tax lawyers is actively monitoring for federal and international tax developments and issues of note. Each week we pull together the items we deem most important to...more

DLA Piper

REIT Tax News - June 2025

DLA Piper on

On May 22, 2025, the House of Representatives passed a tax bill (House Tax Bill) that proposes to make permanent – and increase – the section 199A deduction for ordinary REIT dividends to 23 percent. This change would reduce...more

Troutman Pepper Locke

The One Big Beautiful Bill: Initial Analysis of Key Provisions for Investment Funds and Sponsors

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

Seward & Kissel LLP

Proposed Tax on Certain Outbound Remittances

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In just under two weeks, the House of Representatives introduced, modified and passed the One Big, Beautiful Bill of 2025 (the “House Tax Bill”). This Memorandum addresses a new proposed tax on certain persons sending money...more

Venable LLP

New ERC Cutoff in “One Big Beautiful Bill” Runs into Serious Parliamentary and Constitutional Headwinds

Venable LLP on

The House reconciliation measure branded the “One, Big, Beautiful Bill” (OBBB) would bar the IRS from paying any Employee Retention Credit (ERC) refund claims filed after January 31, 2024. Section 112205 of OBBB also imposes...more

Cadwalader, Wickersham & Taft LLP

Where’s Waldo? Budget and Crypto Bills Silent on Crypto Tax

The House’s recent budget bill includes significant tax legislation; however, it does not include any crypto tax provisions. Additionally, the GENIUS Act, which recently moved forward in the Senate and would provide a...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

McDermott Will & Schulte

IRS Roundup May 2 – May 13, 2025

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for May 2, 2025 – May 13, 2025. IRS GUIDANCE - May 2, 2025: The IRS issued Revenue Procedure 2025-20, providing...more

Baker Botts L.L.P.

Taxpayer Assistance and Service Act – Comments from the ABA Tax Section

Baker Botts L.L.P. on

On January 30, 2025, a bipartisan group of US Senators released a discussion draft of the Taxpayer Assistance and Service Act (“TAS Act”), a taxpayer-friendly legislative proposal. While it is uncertain whether the TAS Act...more

Bradley Arant Boult Cummings LLP

Not Cool, Man: Senate Proposal to Expand 280E Taxes on Cannabis Businesses Even if Rescheduled

Anyone who thought that the momentum towards federal liberalization of marijuana would be a straight line found themselves with a cold dash of water to the face. Late last week Republican senators filed a bill, entitled the...more

Skadden, Arps, Slate, Meagher & Flom LLP

State of Play on US Tax Proposals

A House bill adopted in January 2024, H.R. 7024 (the Bill), would extend some business-friendly tax provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) that were being, or have already been, phased out. Titled the “Tax...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, Feb. 7, 2023

Debt Limit Negotiations Stall as Treasury Department Begins Extraordinary Measures. On Jan. 19, the U.S. government reached its $31.4 trillion borrowing limit, which was signed into law by President Joe Biden late last year....more

Brownstein Hyatt Farber Schreck

Taxation & Representation, Dec. 6, 2022

Legislative Lowdown - Last-Minute Attempt to Revive Permitting Legislation. According to sources familiar with the matter, several moderate lawmakers from both parties are pushing to include energy-permitting reform...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, Sept. 27, 2022

LEGISLATIVE LOWDOWN - Congress Advances Towards CR as Deadline Approaches. Yesterday, Senate Democrats proposed legislation to fund the federal government through Dec. 16 with the use of a continuing resolution (CR). The...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, September 20, 2022

Democrats’ Latest Push for an Expanded CTC. With the year-long effort to legislate a comprehensive energy, healthcare and tax bill finally completed, many Democratic lawmakers and members of the administration have fully...more

Foley & Lardner LLP

The Inflation Reduction Act: Key Provisions Regarding the ITC and PTC

Foley & Lardner LLP on

On August 12, 2022, the House of Representatives passed the Inflation Reduction Act of 2022 (the “Act”), which the Senate passed on August 7, 2022.  President Biden has indicated that he will sign the Act into law....more

Brownstein Hyatt Farber Schreck

Tax & Financial Services Week Ahead, June 6 2022

The House and the Senate reconvene Tuesday at 2 p.m. and Monday at 3 a.m., respectively....more

Brownstein Hyatt Farber Schreck

Tax & Financial Services Week Ahead - March 21, 2022

The military conflict between Russia and Ukraine remains front of mind for Congress. Shortly after hearing from Ukrainian President Volodymyr Zelenskyy last week, the House passed with broad bipartisan support a bill that...more

Steptoe & Johnson PLLC

West Virginia Legislative Brief - March 2021

Welcome to the 2021 Legislative Brief, your one-stop shop for legislative news from a variety of sources throughout West Virginia, and my view of the legislative happenings on the horizon. Today marks the 24th day of the...more

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