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SALT Internal Revenue Code (IRC) Federal Taxes

Cooley LLP

Proposed Federal Tax Legislation Would Effect Three Key Changes to State and Local Tax Deductibility Limits

Cooley LLP on

On May 22, the House of Representatives passed proposed tax legislation titled, “The One, Big, Beautiful Bill” (TOBBB), which will now be debated in the Senate. Among other proposals, if enacted into law, TOBBB would make...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Issues Guidance on Federal Tax Treatment of State Paid Family and Medical Leave Contributions and Benefits

The Internal Revenue Service (IRS) has released new guidance on the federal income and employment tax treatment of contributions and benefits paid under state paid family and medical leave (PFML) statutes. This guidance also...more

McDermott Will & Schulte

SALT Implications of Final Section 385 Debt-Equity Regulations

McDermott Will & Schulte on

The recently released final regulations under Internal Revenue Code Section 385, addressing the circumstances under which related company debt will be classified as equity for federal income tax purposes, will have a...more

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