Tax Reform, Proposed Rules, Income Taxes

New Jersey Proposes Rules Incorporating Parts of MTC's Public Law 86-272 Guidelines

Husch Blackwell LLP on 3/14/2025

Public Law 86-272 (P.L. 86-272) was first adopted by the U.S. Congress in 1959 to address the business concerns of tax implications from traveling salesmen working in multiple states. To address these concerns, Congress used...more

California’s proposed market sourcing reg raises questions

Eversheds Sutherland (US) LLP on 2/4/2025

The California Franchise Tax Board (FTB) has proposed amendments to its regulations that govern how sales of services and intangibles are sourced for income tax purposes. The changes to this income tax apportionment...more

IRS Roundup January 6 – 10, 2025

McDermott Will & Schulte on 1/23/2025

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 6, 2025 – January 10, 2025....more

IRS Announces Proposed 162(m) Regulations Defining the Scope of Expanded Covered Employees

Skadden, Arps, Slate, Meagher & Flom LLP on 1/20/2025

On January 16, 2025, the IRS and the Department of the Treasury published proposed regulations relating to Section 162(m) of the Internal Revenue Code. The proposed regulations provide guidance on, and implement, the...more

Dueling Crypto Banjos: Two Very Different Reactions to Treasury’s Proposed Crypto Reporting Scheme

Cadwalader, Wickersham & Taft LLP on 10/25/2023

Treasury recently delivered a mother lode of proposed tax reporting rules to the crypto industry. By and large, the crypto industry is booing loudly, complaining that the rules are overbroad and that there is not enough time...more

The Biden Administration Proposes Changes to the Taxation of Partnerships

Proskauer - Tax Talks on 6/14/2022

On March 28, 2022, the Biden Administration proposed certain limited changes to the taxation of partnerships. In short, the Administration’s proposals would (i) prevent related partners in a partnership that has made a...more