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Tax Credits

McCarter & English, LLP

House Tax Bill Provides Significant New Funding Sources for Private Elementary and Secondary Education

President Trump’s “One Big Beautiful Bill” (OBBBA) was narrowly passed in the House in May, and while there are many important aspects of the bill, there are provisions that may affect secondary and post-secondary...more

Fisher Phillips

Alabama’s New School Choice Program Gets Funding Boost to Meet Overwhelming Demand: 4 Considerations for Private School Leaders

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Alabama rolled out applications for its new school choice program earlier this year, and even the lawmakers behind it were surprised by the volume of submissions from families of K-12 students. That’s why the state nearly...more

Fenwick & West LLP

House Reconciliation Bill Would Restore Expensing for Domestic R&D Prospectively

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On May 22, 2025, the U.S. House of Representatives passed a reconciliation bill (commonly referred to as the “One Big Beautiful Bill”), which would restore expensing for domestic research and development expenses incurred in...more

Holland & Hart LLP

the buzz: Cannabis News & Policy Update | Special Edition for June 2025

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In this Court Rips edition of the buzz: IRC §280E limits the ERC for cannabis company - Canna Provisions case is dismissed (again) by Appeals Court....more

Mayer Brown

Superior Court of Justice Changes Understanding on Statute of Limitations for Offsetting Tax Credits Arising from Judicial...

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The Second Panel of the Brazilian Superior Court of Justice (STJ) recently issued a significant decision regarding the time limit for the offset of tax credits recognized in final and unappealable judicial decisions. The...more

Troutman Pepper Locke

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

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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

Guidepost Solutions LLC

Navigating IRS Code Section 132: Independent Security Studies for Executives

In the past five months, we have seen a greater number of requests for the Independent Security Study than in the past five years combined. What is driving this surge? Greater awareness by boards as to the importance of...more

Whiteford

Client Alert: Inside the One Big Beautiful Bill Crucial Tax Updates for Individuals, Business Owners, and Nonprofits

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On May 22, 2025, the House of Representatives passed H.R. 1-119th Congress (2025-2026), titled as the “One, Big, Beautiful Bill Act” (the “Act”), a budget bill that, among other things, addresses soon to sunset provisions of...more

Brownstein Hyatt Farber Schreck

Wyoming Joint Minerals Committee Looks to Enhanced Oil Recovery

On May 21, 2025, the Joint Minerals, Business and Economic Development Committee met in Casper, Wyoming. Lawmakers and industry leaders examined the future of enhanced oil recovery (EOR) in the state—an effort that could...more

Bond Schoeneck & King PLLC

Top 10 Tax Takeaways From The One Big Beautiful Bill Act

On May 22, 2025, the U.S. House of Representatives passed federal reconciliation bill H.R. 1, commonly known as the “One Big Beautiful Bill Act,” which will now move to the U.S. Senate for consideration. While the U.S....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

Mintz - Energy & Sustainability Viewpoints

Energy & Sustainability Washington Update — June 2025

In a pivotal month for energy and fiscal policy, House Republicans advanced their sweeping reconciliation package, narrowly passing the bill on May 22 by a 215-214 vote. The legislation aims to make permanent the expiring tax...more

Proskauer - Employee Benefits & Executive...

The One Big Beautiful Bill Act (Tax Reform): Employee Benefits and Executive Compensation Breakdown

On May 22, 2025, the House of Representatives passed legislation titled “The One Big Beautiful Bill Act” (the “House Bill”) (available here), which includes several tax reform provisions. The House Bill is now being...more

Venable LLP

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

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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

Baker Botts L.L.P.

"The One Big Beautiful Bill" Key Tax Takeaways

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On May 22, 2025, the House passed the legislation entitled “The One Big Beautiful Bill” (the “BBB”). The BBB makes permanent, extends and, in certain cases, modifies, a number of provisions from the 2017 Tax Cuts and Jobs Act...more

Bergeson & Campbell, P.C.

BETO Updates 45ZCF-GREET Model to Incorporate New Methods of Alternative Fuel Production

On May 30, 2025, the U.S. Department of Energy (DOE) Bioenergy Technologies Office (BETO) announced that it “removed barriers to domestic bioenergy production by updating its 45ZCF-GREET modeling tool to account for new...more

Hogan Lovells

Implications of new FEOC restrictions on clean energy tax credits

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On May 12, 2025, the House Ways and Means Committee reported out a significant tax reconciliation bill, known as the “One, Big, Beautiful Bill.” While the bill aims to extend and enhance several provisions from the 2017 Tax...more

Baker Botts L.L.P.

The One Big Beautiful Bill Proposes to Severely Restrict Clean Energy Tax Incentives

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On May 22, 2025, the House passed the legislation entitled “The One Big Beautiful Bill” (the “BBB”) that would, if enacted into law, severely restrict clean energy tax incentives. This client update addresses the BBB’s...more

Eversheds Sutherland (US) LLP

Tax Bytes: Week of May 26, 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

Allen Barron, Inc.

Tax Developments for US Expatriates

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There have been many recent tax developments for U.S. expatriates. It is essential for U.S. citizens residing outside the United States and those considering an expat life to understand their responsibilities as U.S....more

Mayer Brown

House Reconciliation Bill Amends Clean Energy Provisions of the IRA

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On May 22, 2025, the House of Representatives passed its reconciliation bill, H.R. 1, entitled “One Big Beautiful Bill Act” (the “legislation”), which significantly amends the clean energy provisions that were enacted as part...more

Holland & Knight LLP

Eyes on Energy Tax: IRS Releases 2025 Section 45 Production Tax Credit Amounts

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The IRS on May 23, 2025, released 2025 production tax credit (PTC) amounts under Section 45 of the Internal Revenue Code. The guidance provides that: Section 45 allows a renewable energy PTC for generating electricity from...more

Steptoe & Johnson PLLC

Tax Reform is Underway

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Will America celebrate the Fourth of July with the passage of major tax reform? On May 22, House Republicans passed the “One Big Beautiful Bill Act” under the budget reconciliation process. This marks a significant milestone...more

White & Case LLP

Government Initiatives Fueling Nuclear Energy Growth in the United States

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The latest nuclear energy-related Executive Orders aim to accelerate the development of new nuclear reactor technologies and projects in the United States, enhance national uranium mining, incentivize private investment in...more

A&O Shearman

Summary of key provisions in House reconciliation bill

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On May 22, 2025, the U.S. House of Representatives narrowly passed the House budget reconciliation bill (H.R. 1) (the “House Bill”) by a party-line vote of 215 – 214. The House Bill, which includes significant tax law...more

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