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Tax Cuts and Jobs Act Capital Gains Income Taxes

McCarter & English, LLP

What OBBBA Means for Individual Taxpayers: Key Takeaways

On July 4, 2025, President Trump signed into law the legislation commonly referred to as the One Big Beautiful Bill or OBBBA, which includes many tax law changes impacting individuals. The changes cover a broad range of...more

Amundsen Davis LLC

Missouri Eliminates Income Tax on Capital Gains for Individuals

Amundsen Davis LLC on

On July 10, 2025, Missouri Governor Mike Kehoe signed into law House Bill 594 (the “Bill”), which effectively eliminates the capital gains income tax for individuals and an income tax deduction for corporations. Capital gains...more

Cozen O'Connor

Expansion of QSBS Benefits Under the One Big Beautiful Bill

Cozen O'Connor on

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law, which had narrowly passed through the United States Congress. The OBBBA makes permanent certain tax provisions that were due to expire...more

Conn Kavanaugh

Alimony Refresher

Conn Kavanaugh on

Enactment of the “Alimony Reform Act” The “Alimony Reform Act” of Massachusetts (G. L. c. 208, §§ 48- 55) was enacted in 2012 and dramatically altered the spousal support/alimony landscape. Thirteen years later, it is...more

Cadwalader, Wickersham & Taft LLP

Tax Proposals Bid Adieu to Carried Interest

On February 6, 2025, the Trump Administration announced various tax and budgetary priorities discussed further here, including closing the “carried interest loophole.”  On the same day, Democrats in the House and Senate...more

Cadwalader, Wickersham & Taft LLP

Shrinking Carried Interest Loophole Under Attack Again

On October 10, Representative Matt Cartwright (D-PA) introduced the Bill Pascrell Ending Tax Giveaway Act with the goal of “closing the controversial carried interest loophole.”...more

Fox Rothschild LLP

Partnership Interest Sale Inventory Gain is Not U.S. Source Income

Fox Rothschild LLP on

On July 23, 2024, the U.S. Court of Appeals for the D.C. Circuit reversed the U.S. Tax Court in holding that inventory gain recognized by a nonresident alien individual partner on the sale of her interest in a U.S....more

Williams Mullen

No Moore Waiting - Supreme Court Upholds Mandatory Repatriation Tax

Williams Mullen on

On June 20, the U.S. Supreme Court released its opinion in the closely watched case of Moore v. United States. In a 7-2 decision, the court upheld the constitutionality of the mandatory repatriation tax (MRT), also referred...more

Rivkin Radler LLP

Taxes and the 2024 Election: ‘Tis the Season to Plan and Act

Rivkin Radler LLP on

This is The End- I have dreaded the year end for as long as I can remember. As a teenager and then as a young adult I associated the final quarter of the year, and especially the period beginning on Thanksgiving and...more

Allen Barron, Inc.

Could an Upcoming Supreme Court Case Significantly Change US Tax Law?

Allen Barron, Inc. on

Could a Supreme Court of the United States (SCOTUS) case significantly change US tax law? We are closely watching the developments in Moore v United States as it carries significant issues regarding “realized” versus...more

Chambliss, Bahner & Stophel, P.C.

Mitigating the Impacts: Sunsetting the Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act (TCJA) took effect on Jan. 1, 2018, and impacted personal income taxes, small businesses, estate tax rules, capital gains rules, special needs accounts, and much more. The TCJA is scheduled to sunset...more

Jones Day

IRS Targeting Noncompliant Qualified Opportunity Funds and Their Investors

Jones Day on

On April 12, 2022, the Internal Revenue Service announced that starting this month, it will send letters to taxpayers requesting that they take corrective actions related to the reporting of investments in qualified...more

ArentFox Schiff

One, Two, Three, Four . . . Can I Have a Little More? Another State Enacts SALT Cap Workaround

ArentFox Schiff on

While business owners wait to see whether Congress raises the U.S. long-term capital gains rate from 20 percent to 25 percent and enacts relief from the limitations on the deductibility of state and local taxes (SALT),...more

Mintz - ML Strategies

House Democrats Weigh Major Tax Changes for Businesses, Funds, and Individuals

Mintz - ML Strategies on

In May 2021, President Biden’s administration released a $6 trillion budget proposal for the coming fiscal year (Budget), including $3.6 trillion of tax increases over 10 years and generous tax credits to incentivize clean...more

ArentFox Schiff

“Should Five Percent Appear Too Small, Be Thankful I Don’t Take It All”: Ways and Means Committee Advances Tax Increase and Reform...

ArentFox Schiff on

The House Ways and Means Committee advanced key tax reform proposals on September 15 that would increase taxes for corporations and high-income individuals. Several tax reform proposals are under consideration as part of...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Following Up On "Election Day is Coming – Will Major Tax Changes Follow?

On August 10, 2020, we published a post outlining some of President Biden’s tax proposals set forth on the campaign trail. This post takes a deeper look at some of those proposals and some of the factors likely to influence...more

Jackson Walker

Tax Planning for a Biden Presidency

Jackson Walker on

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

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

Foley & Lardner LLP

Charitable Planning in the Midst of Uncertainty

Foley & Lardner LLP on

For charitably inclined individuals, there is a significant amount of uncertainty brought on by possible policy shifts that may occur if former Vice President Joe Biden is elected and Democrats take a majority in the Senate....more

Wyrick Robbins Yates & Ponton LLP

Nine Biden Tax Proposals to Know as We Near Election Day

We’re roughly a month from Election Day, and I think it’s safe to say many Americans have strong opinions about who should be our President for the next four years.  I also think it’s safe to say taxes are not the top...more

Womble Bond Dickinson

2020 Candidate Tax Proposals

Womble Bond Dickinson on

We’re a little less than 50 days from the 2020 presidential election and many people are wondering what effect a potential change in leadership could have on their tax bill. If the Democrats take the White House many of the...more

Jones Day

U.S. Treasury Department Releases Proposed Carried Interest Regulations

Jones Day on

The regulations are proposed to be effective when finalized, but taxpayers may generally rely on them if applied fully and consistently. What Is (and Is Not) Covered? The three-year restriction applies with respect to...more

Foley & Lardner LLP

A Quick Outline of the Biden Tax Proposals

Foley & Lardner LLP on

As part of his campaign platform, Democratic Presidential nominee Joe Biden has released a tax plan that would significantly increase taxes on high net worth individuals. Although a campaign platform is only a “rough draft”...more

Neal, Gerber & Eisenberg LLP

Fund Managers and Family Offices Get Some Clarity on Carried Interests with Issuance of Proposed Treasury Regulations

On August 14, 2020, the IRS published Proposed Treasury Regulations (the “Proposed Regulations”) under Section 1061 of the Internal Revenue Code to close the “carried interest loop hole” through which managers of investment...more

Farrell Fritz, P.C.

Responding To The Democratic Party’s Tax Plans

Farrell Fritz, P.C. on

The Convention- The Democratic Party’s “virtual” convention last week seems to have gone pretty well. All the stars of the Party’s firmament were on hand and spoke in “virtually” one voice in their assessment of the...more

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