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Ballard Spahr LLP

President Trump’s Budget Extends His 2017 Individual Tax Provisions

Ballard Spahr LLP on

President Trump signed into law what is commonly referred to as the One Big Beautiful Bill Act (OBBBA), extending provisions from the Tax Cuts and Jobs Act of 2017 otherwise set to expire at the end of this year. The new...more

Proskauer - Tax Talks

Tax Proposals Potentially Being Considered by the U.S. House Budget Committee in Reconciliation

Proskauer - Tax Talks on

On January 17, 2025, multiple news outlets and other sources reported the existence of a memorandum circulated by the U.S. House of Representatives Budget Committee to the House Republican Caucus (the “Memorandum”) containing...more

Bowditch & Dewey

Major 2024 Changes for Individual Massachusetts Taxpayers

Bowditch & Dewey on

Due Date - The due date for Massachusetts Income Tax Returns is April 15, 2025. Income Tax Rate - The tax rate on most types of taxable income is 5%. The tax rate on long-term gains from the sale or exchange of...more

Cadwalader, Wickersham & Taft LLP

Presidential Candidates’ Tax Proposals Diverge on the Road to November

The outcome of the upcoming elections is likely to significantly impact future tax legislation.  Notably, many tax provisions enacted under prior tax legislation, commonly called the Tax Cuts and Jobs Act (the “TCJA”), will...more

Baker Donelson

SALT Select Developments - May 2024

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Brownstein Hyatt Farber Schreck

Taxation & Representation. Feb. 15, 2023

TAX TIDBIT - Progress on Werfel and Blatchford Appointments, Other Nominations Delayed. Following the retirement of former IRS Commissioner Chuck Rettig in early November 2022, the tax-administration agency has been...more

Bowditch & Dewey

Tax Year 2023 Annual Inflation Adjustments

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The Internal Revenue Service has announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions including tax rate schedules and other tax changes. Here are some key highlights...more

Keating Muething & Klekamp PLL

Fall 2022 Estate Planning Update

This Estate Planning Update reviews the newly-released estate tax exemption and gifting adjustments for 2023, the extended deadline to make a portability election, and simple ways that business owners and professionals can...more

Stoel Rives - Mineral Law

Tax Actions by the Alaska Legislature in 2022

In my most recent column for State Tax Notes, I look at several bills that did and didn’t pass in the latest session of the Alaska State Legislature, which adjourned in May, and at what may be on the horizon....more

A&O Shearman

Inflation Reduction Act of 2022: New Corporate Book Minimum Tax and Changes for Carried Interests

A&O Shearman on

On July 27, 2022, Senators Manchin and Schumer announced that they agreed to a proposed reconciliation package, the Inflation Reduction Act of 2022, H.R. 5376 (the “Bill”). If enacted, the Bill would finance climate programs,...more

Bowditch & Dewey

IRS Issues 2022 Inflation Adjustments

Bowditch & Dewey on

The IRS recently issued the 2022 annual adjustments for numerous tax provisions that are by law to be adjusted annually. These adjustments include changes to tax brackets and standard deductions. Popular provisions that were...more

Davies Ward Phillips & Vineberg LLP

Revised U.S. Tax Proposals Will Affect Foreign Investment

The U.S. House Committee on Rules recently released an updated version of the Build Back Better Act (Act) to reflect the White House’s Build Back Better framework (Framework) announced on the same day (October 28, 2021). ...more

Bowditch & Dewey

Impact of House Ways and Means Tax Proposal on Domestic Businesses

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On September 13, 2021, the Congressional House Ways and Means Committee introduced 880 plus pages of legislative tax proposals to help fund the House’s proposed $3.5 trillion stimulus package. Below are tax proposals relevant...more

BakerHostetler

White House Adds Details to Its Far-Reaching 2021 Tax Reform Plans

BakerHostetler on

The White House today released The American Families Plan, which includes some new details regarding the Biden administration’s proposed 2021 tax reform. The tax changes expected to be enacted this year will be substantial...more

Proskauer - Tax Talks

The Made in America Tax Plan: The Biden Administration Outlines its Tax Reform Proposals

Proskauer - Tax Talks on

On March 31, 2021, the White House released a factsheet describing the “American Jobs Plan”, a $2.3 trillion proposal for infrastructure spending that also contains certain significant tax credits, and the “Made in America...more

Mayer Brown

Potential Energy Tax Changes under a Biden Administration

Mayer Brown on

As the incoming Biden Administration takes shape, energy companies will be monitoring potential tax policy initiatives, especially those that could impact the energy sector. Companies throughout the sector could be treated...more

Alston & Bird

Biden’s International Tax Proposals – No Longer a Long Shot After Democrats Win in Georgia

Alston & Bird on

What does a (barely) Democratic Senate mean for Biden’s tax plans? Our International Tax Group discusses the President-elect’s broad proposals and how they could change the cross-border tax landscape....more

Proskauer - Tax Talks

Tax Proposals of President-Elect Biden and Other Prominent Democrats

Proskauer - Tax Talks on

This blog summarizes some of the tax proposals of President-elect Joe Biden and other prominent Democrats. Biden’s Proposals - Increased Individual Tax Rate - Biden would increase the top marginal income tax rate...more

Jackson Walker

Tax Planning for a Biden Presidency

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This past November, we outlined selected tax law changes that President-elect Joe Biden has proposed, both in speaking engagements and on his campaign website, some or all of which could be enacted in 2021 or future years. ...more

Bowditch & Dewey

IRS Issues 2021 Inflation Adjustments

Bowditch & Dewey on

The IRS recently issued the 2021 annual adjustments for numerous tax provisions that are by law to be adjusted annually. These adjustments include changes to tax brackets and standard deductions. Popular provisions that were...more

Jackson Walker

Tax Planning for a Biden Presidency

Jackson Walker on

With Biden as the projected President-Elect (subject to pending federal litigation and the Electoral College vote), tax planning for late 2020, 2021, and beyond is top of mind for many businesses and individuals....more

McNees Wallace & Nurick LLC

Recent Changes In Employee Benefits Law - What You Need To Know For 2020

In the past few months, we have seen significant changes to the laws governing employee benefits, from the new hardship withdrawal regulations for 401(k) participants, to the SECURE Act, to the new individual coverage health...more

Groom Law Group, Chartered

SECURE Act Requires Immediate Action by Plan Service Providers

Congress recently passed the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), the largest package of retirement system reforms in over a decade.  Many of the provisions in the SECURE Act...more

Littler

SECURE Act Provides Sweeping and Immediate Changes to Retirement Plans

Littler on

On Friday, December 20, 2019, President Trump signed into law the Setting Every Community Up for Retirement Act of 2019 (the “SECURE Act”) as part of a spending bill to fund the government through September 30, 2020 (H.R....more

Lewitt Hackman

SECURE Act Creates Need for Estate Plan Review

Lewitt Hackman on

Congress recently passed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act, or the “Act”) implementing one of the most substantial pieces of retirement plan legislation in years, into law....more

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