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Tax Relief Business Taxes

Amundsen Davis LLC

Missouri Eliminates Income Tax on Capital Gains for Individuals

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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

Holland & Knight LLP

Washington State Budget Triggers Higher Business, Capital Gains and Estate Taxes in 2025

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Thanks to three primary revenue bills that were signed into law earlier this year, taxes are going up in the state of Washington, in particular for large service businesses, estates and individuals earning capital gains. ...more

Faegre Drinker Biddle & Reath LLP

Announcements on Tax Relief Relating to Los Angeles County Wildfires

The Internal Revenue Service (IRS) and the California Franchise Tax Board (FTB) have extended to October 15, 2025, the tax filing and payment deadlines that occurred or will occur from January 7, 2025, through October 14,...more

Holland & Knight LLP

IRS, State of California Offer Tax Relief for Wildfire-Impacted Taxpayers in Los Angeles County

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In response to a Federal Emergency Management Agency (FEMA) declaration on the Los Angeles wildfires, the IRS on Jan. 10, 2025, issued a news release, IR-2025-10, which postpones certain tax-filing and tax-payment deadlines...more

Buchalter

Tax Relief and Recovery: Key Considerations for Los Angeles Residents Affected by Recent Wildfires

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We at the Buchalter law firm understand that many have suffered greatly as a result of the recent wildfires. The loss of life, and the loss of homes with memories is, of course irreplaceable....more

Roetzel & Andress

Year-End and Trending Tax Considerations for Health Care Practices

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On the HealthLawHotSpot this week, host Ericka Adler sits down with Roetzel attorney Donna Hartl to explore some crucial year-end tax considerations as well as trending tax issues. Donna and Ericka discuss the importance of...more

PilieroMazza PLLC

Employee Retention Credit: Moratorium, Withdrawals, and March 22 Deadline for Voluntary Disclosure Program

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The Employee Retention Credit (ERC)—sometimes called the Employee Retention Tax Credit or ERTC—is a refundable tax credit for certain eligible businesses and tax-exempt organizations that had employees and were affected...more

Winthrop & Weinstine, P.A.

The Employee Retention Tax Credit: IRS Developments and Strategy for Taxpayers

The Employee Retention Tax Credit (“ERTC”), under the CARES Act, is a refundable tax credit filed against a company’s payroll taxes. The ERTC was enacted to incentivize employers to maintain their employee base during the...more

DarrowEverett LLP

The Brass Tacks: IRS Creates Process for Withdrawing ERC Claims

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The Internal Revenue Service (“IRS”) recently granted employers a means to avoid interest and penalties on inappropriately taken Employee Retention Tax Credit (“ERC”) claims. This surely will come as a relief to taxpayers who...more

Verrill

2023 Massachusetts Tax Update

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Massachusetts Estate Tax: For decedents dying on or after January 1, 2023, there is no Massachusetts estate tax for an estate under $2,000,000. The law does not adjust the filing threshold so state tax returns may still be...more

Walkers

Budget 2024 – Tax Highlights Ireland

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10 October 2023 – Ireland's Budget 2024 was presented in the context of a positive economic performance for Ireland — full employment, budget surpluses, rising population and a falling national debt — against a backdrop of...more

Sullivan & Worcester

Massachusetts And Maine Receive Hurricane Related Tax Relief

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The Internal Revenue Service delivered an unexpected surprise to taxpayers in Massachusetts and Maine this week by postponing to February 15, 2024 the deadline for various individual and business tax returns and tax payments...more

Miller Canfield

Growing Profits: How Farmers, Greenhouse Operators, and Fishermen Can Maximize Tax Savings Under Canada's Greenhouse Gas Pollution...

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The Canadian Federal Government's Greenhouse Gas Pollution Pricing Act, now entering its fifth year since enactment, presents unique challenges and opportunities for farmers, greenhouse operators, and fishermen. As key...more

DarrowEverett LLP

How IRS Is Cracking Down on Employee Retention Tax Credit Fraud

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The Internal Revenue Service (“IRS”) has recently devoted great attention to detecting, investigating, and prosecuting fraud, particularly as it relates to the Employee Retention Tax Credit (“ERC”) post-COVID. On a webinar...more

BCLP

“For the rich but not the poor” but still entitled to charitable relief from business rates

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In the case of London Borough of Merton Council v Nuffield Health [2023] UKSC 18 , the Supreme Court unanimously held that Nuffield Health was entitled to charitable relief of 80% from its business rates liability in respect...more

Perkins Coie

Congress Considers New Bill To Provide Tax Relief for Cannabis Businesses

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Rep. Earl Blumenauer (D-OR) introduced the Small Business Tax Equity Act (H.R. 2643) on April 17, 2023, a bill that will allow cannabis businesses to obtain tax write-offs for ordinary business expenses....more

Pierce Atwood LLP

Rhode Island Businesses Could Soon Receive Tax Relief

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Rhode Island Senate leadership is backing legislation that would exempt the first $100,000 of tangible property from property taxation by municipalities. The tangible tax is currently levied on businesses for property other...more

Bennett Jones LLP

Supplemental Pension Plans Secured with a Letter of Credit—Federal Budget 2023 Proposes Refundable Tax Relief

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Retirement compensation arrangements (RCAs) are, in appropriate circumstances, a useful tool for employers to provide supplemental pension benefits to employees, but such arrangements come at a cost of refundable tax under...more

McDermott Will & Schulte

Weekly IRS Roundup September 26 – September 30, 2022

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 26, 2022 – September 30, 2022....more

Cadwalader, Wickersham & Taft LLP

An About-Face on PPP Deductibility

The Consolidation Appropriations Act of 2021 overrules the IRS’s previous guidance (discussed here) holding that expenses giving rise to the forgiveness of Paycheck Protection Program loans were not deductible....more

Partridge Snow & Hahn LLP

Coronavirus Relief Bill Renews and Brings Changes to PPP and EIDL Programs

On December 21, 2020, Congress passed an approximately $900 billion coronavirus relief bill, the largest since the CARES Act was enacted in March. If signed into law, a portion of the bill labeled the “Economic Aid to...more

Foster Garvey PC

There Is a Santa Claus After All – Lawmakers Deliver a Wonderful Holiday Gift to Businesses and Their Owners in a Time of Need

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The Consolidated Appropriations Act, 2021 - In a bipartisan effort, H.R. 133-116th Congress: Consolidated Appropriations Act, 2021 (the "Consolidated Appropriations Act, 2021") overwhelmingly passed both the House and the...more

McDermott Will & Schulte

Governor Newsom Announces New Relief for Remitting California Sales Tax

On Monday, November 30, 2020, Governor Gavin Newsom announced that California will provide temporary tax relief for eligible businesses impacted by restrictions imposed to control the COVID-19 pandemic. The announcement...more

Troutman Pepper Locke

NOL Carryback Issues for Companies That Departed a Consolidated Group, Including Split Waivers and AMT Credit Refunds

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The Coronavirus Aid, Relief, and Economic Security Act (CARES Act, H.R. 748) included changes to the federal income tax loss (NOL) carryforward provisions under Section 172 of the Internal Revenue Code. One of the significant...more

Akerman LLP

IRS Issues Guidance on the NOL Carryback Provisions of the CARES Act

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The Coronavirus Aid, Relief and Economic Security Act (CARES Act), enacted March 27, 2020, amends the Internal Revenue Code (Code) and provides for the carryback of net operating losses arising in taxable years beginning on...more

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