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Proposed Legislation › Tax Exemptions › Tax Deductions

Pillsbury Winthrop Shaw Pittman LLP

The “Big, Beautiful Bill” Starts to Come into Focus: U.S. Ways & Means Committee Releases Proposed 2025 Federal Income Tax...

Pillsbury Winthrop Shaw Pittman LLP on

On May 9, 2025, the House Ways & Means Committee released its initial draft of President Trump’s “big, beautiful bill.” The bill will set the stage for extending the tax cuts enacted in 2017 as part of President Trump’s first...more

Gould + Ratner LLP

Proposed Federal Tax Changes Take Aim at Wealthy Businesses and Individuals

Gould + Ratner LLP on

The tax plan released last month by the Democratic-led House Ways and Means Committee would bring about extensive changes in the taxation of businesses and high-income individuals. Proposals Affecting Businesses - Key...more

Bowditch & Dewey

Impact of House Ways and Means Tax Proposals for Trusts, Estates, and Retirement Accounts

Bowditch & Dewey on

In this second blog post on the House Ways and Means Tax proposals, we address the proposed changes that will affect the taxation of trusts, estates, and retirement plans. As we discussed, on September 13, 2021, the...more

Schwabe, Williamson & Wyatt PC

Three Estate Planning Proposals to Watch

Schwabe, Williamson & Wyatt PC on

House Democrats recently released additional legislative proposals that, if passed, would affect several commonly used estate planning techniques. Among those proposals are three that would significantly impact some of the...more

Cadwalader, Wickersham & Taft LLP

Potential Impact of House Tax Reform Bill on Nonprofit Tax-Exempt Organizations

Cadwalader, Wickersham & Taft LLP on

On November 2, 2017, Republicans in the U.S. House of Representatives unveiled their tax reform bill (the “Bill”), entitled the “Tax Cuts and Jobs Act.” The Bill proposes significant changes to the current U.S. federal income...more

Proskauer - Tax Talks

Senator Warren Leads Coalition to Expand Scope of Limitations on Executive Compensation Tax Deductions

Proskauer - Tax Talks on

Section 162(m) of the Internal Revenue Code generally limits the deductibility of compensation paid in excess of $1 million to the chief executive officer and the three other highest compensated officers (other than the chief...more

Winthrop & Weinstine, P.A.

June Special Session?

Winthrop & Weinstine, P.A. on

Gov. Mark Dayton rejected a $259 million tax cut bill at midnight Tuesday by declining to sign it (pocket veto). The Omnibus Tax Bill would have delivered new credits, exemptions and deductions for farmers, businesses and...more

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