News & Analysis as of

Tax Liability Excise Tax Tax Cuts and Jobs Act

Patterson Belknap Webb & Tyler LLP

The One Big Beautiful Bill: Top Tax Takeaways for Nonprofits

President Trump’s sweeping package of domestic legislation, H.R. 1 (originally titled the One Big Beautiful Bill Act (the “OBBB”)), became law on July 4, 2025. In addition to dramatically reshaping the landscape for...more

Kohrman Jackson & Krantz LLP

Scrutiny on Personal Use of Business Jets Intensifies: IRS to Conduct Audits

Initially, tracking systems were employed to monitor the private jet usage of celebrities like Taylor Swift. Now, similar scrutiny will extend to executives who utilize business aircraft for personal purposes while claiming...more

Faegre Drinker Biddle & Reath LLP

Colleges & Universities: It’s a Good Time to Review Your Tax Liability Under the 2017 Tax Cuts and Jobs Act

Now that the 2017 Tax Cuts and Jobs Act is into its second year, it may be a good time for colleges and universities to review the implications of these new tax rules and consider any changes they might make to reduce their...more

Nelson Mullins Riley & Scarborough LLP

How Will Tax-Exempts Report Excise Tax on Compensation Over $1 Million?

The Tax Cuts and Jobs Act of 2017 imposes excise taxes on tax-exempt organizations who pay compensation excess of $1 million or make certain “excess parachute” payments on account of termination of employment. ...more

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