Tax Reform, Tax Deductions, Tax Court

One Big Beautiful Bill Act, H.R. 1 – 119th Congress (2025-2026): Part III – Gambling / Code Section 165(d)

Foster Garvey PC on 7/16/2025

In this third installment of my multi-part series on the One Big Beautiful Bill Act (the “Act”), I discuss a provision of the Act that may not impact a large segment of the population, but which is interesting and worthy of...more

Partnership Losses But No Outside Basis? Too Bad

Rivkin Radler LLP on 7/27/2023

Losses Weren’t Always Bad- Most tax advisers are aware that, prior to the Tax Reform Act of 1986 (the “TRA”),[i] the Code placed few limitations on the ability of an individual taxpayer to use deductions from a particular...more

UK Tax Round Up - May 2022

Proskauer Rose LLP on 6/8/2022

Welcome to May's edition of the UK Tax Round Up. This month has seen a number of interesting court decisions, an important opinion of the European Commission’s Advocate General and the commencement of a Treasury consultation...more

UK Tax Round Up - January 2022

Proskauer Rose LLP on 2/10/2022

UK Case Law Developments - Contributions to remuneration trust scheme not tax deductible - In Strategic Branding Ltd v HMRC, the First-tier Tribunal (FTT) held that sums contributed by the taxpayer company to a...more

Tax Court Rules State Corporate Incentives Are NOT Taxable Income Under Federal Law

McDermott Will & Schulte on 4/11/2019

Many states and localities give incentives for business to move or transact in their locations. There has always been a question of whether these incentives are taxable income under federal income tax law. Internal Revenue...more

Tax Reform Summary for Family Offices

A&O Shearman on 12/27/2017

On December 20, 2017, Congress passed the “Tax Cut and Jobs Act,” which was signed into law by President Trump on December 22, 2017. With some exceptions, the law’s provisions generally are effective for tax years beginning...more