News & Analysis as of

Tax Relief Income Taxes

Venable LLP

SALT Alert: Final OBBBA Temporarily Expands SALT Cap and Revises AMT Phaseout

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The One Big Beautiful Bill Act (OBBBA or the Act), enacted in July 2025, introduces significant changes to the treatment of state and local tax (SALT) deduction and the alternative minimum tax (AMT). ...more

Womble Bond Dickinson

Unlocking Savings: New Tax Breaks for Overtime and Tips - What Employers Need to Know

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In a sweeping move set to reshape employee paychecks, the newly enacted One Big Beautiful Bill Act (OBBBA) introduces two significant federal tax deductions for hourly workers: one for overtime pay and another for tip income....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

Foster Garvey PC

The House Passes a Tax Bill Containing a SALT Cap Compromise That Is Slightly Better Than Its Prior Proposal

Foster Garvey PC on

As reported on May 16, 2025, the SALT cap proposal contained in the legislation that was pending in the U.S. House of Representatives (“House”) aimed at, among other things, dealing with the expiring provisions of the Tax...more

IR Global

Higher rate tax relief on pension contributions

IR Global on

Want to make the most of your pension savings? You could claim up to 45% tax relief on contributions, plus carry forward unused allowances. Here’s how to boost your retirement pot with generous HMRC incentives....more

Allen Matkins

Tax Information for Those Impacted by the Los Angeles County Wildfires

Allen Matkins on

As a Los Angeles-based firm, we are deeply saddened by the devastation caused by the recent wildfires. We remain committed to supporting our clients and friends during this time and are hopeful that the general tax...more

IR Global

How donations to charity can provide tax relief

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Gift Aid transforms charitable donations by allowing charities and CASCs to claim 25p extra for every £1 given—at no additional cost to you. Higher and additional rate taxpayers can also claim valuable tax relief, making...more

Lewitt Hackman

2025 California Wildfire Tax Relief

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The following summarizes some of the available tax relief procedures for taxpayers affected by the Palisades, Eaton, Hurst, and other Los Angeles County wildfires. Answers to commonly asked disaster-related tax questions are...more

Holland & Knight LLP

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

Holland & Knight LLP on

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

Greenberg Glusker LLP

California and Federal Tax Deadlines Postponed for Los Angeles County Residents

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As a result of the wildfires in Los Angeles County, California, on January 10, 2025, the IRS extended substantially all tax filing and payment dates until October 15, 2025, for residents of Los Angeles County. On January 11,...more

Buchalter

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

Buchalter on

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

Nossaman LLP

IRS and California Provide Tax Relief for LA County Residents and Businesses

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The IRS on Friday, January 10, 2025 extended tax payment and filing deadlines to October 15, 2025 for Los Angeles County individuals and businesses because of the recent fires. The California Governor’s office followed suit...more

Coblentz Patch Duffy & Bass

IRS Tax Relief for Southern California Wildfire Victims

In light of the ongoing wildfires in Los Angeles, we want to take a moment to express our deep concern for all those affected by this devastating disaster. Our thoughts are with everyone impacted by the fires....more

International Lawyers Network

Establishing a Business Entity in Austria (Updated)

1. Introduction - In principle any national citizen or foreign national is allowed to establish a business in Austria. A company is defined as a partnership of at least two persons (exceptions for limited liability...more

Foodman CPAs & Advisors

Hurricane Helene and Milton IRS Relief

Foodman CPAs & Advisors on

On 10/11/24, the IRS announced that it is ready to provide tax assistance for taxpayers affected by Hurricane Helene and Milton that devastated Alabama, Florida, Georgia, North Carolina and South Carolina, and parts of...more

Ius Laboris

Tax Relief for Those Moving (Back)

Ius Laboris on

Many countries have special personal income tax regimes for individuals performing work on their territory and we will be covering some of these regimes in a series of articles. In this article we discuss Return Tax Relief...more

Fox Rothschild LLP

IRS Provides Additional Extensions for Taxpayers Affected by Terrorist Attacks in Israel

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In Notice 2024-72, the IRS provided relief for individuals and businesses affected by terrorism in the State of Israel beginning on September 30, 2024. The new notice provides additional relief to taxpayers in Israel, as well...more

Goodwin

New Tax Measures Designed to Reinforce Luxembourg’s Attractiveness

Goodwin on

On 17 July 2024, the Luxembourg government introduced, under new Bill n° 8414, a comprehensive legislative package meant to modernise and enhance Luxembourg’s tax system. ...more

Bowditch & Dewey

Spousal Relief From Joint Tax Liability

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As a general rule, when a married couple files a joint tax return, they are jointly and severally liable for the entire tax. But what happens if one spouse failed to report income and the other spouse did not know or have...more

IR Global

Is your income over £100,000?

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If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that any taxable receipt that takes your income...more

Cadwalader, Wickersham & Taft LLP

Mixed Opinions on Penalty Relief for Corporate AMT Taxpayers

On April 15, the IRS released Notice 2024-33 (the “Notice”), offering limited relief from tax penalties for underpaying estimated income taxes arising from a corporation’s alternative minimum tax (“AMT”). The AMT imposes a...more

Pillsbury - SeeSalt Blog

Winter Storm Relief – California’s 2024 Extended Deadlines to File and Pay Taxes

The California Franchise Tax Board (FTB), California Department of Tax and Fee Administration (CDTFA) and California Employment Development Department (EDD) announced tax relief for certain California counties affected by...more

Strafford

[Webinar] Tax Considerations for Foreign Rental Property: Holding Structures, Reporting Rental Income and Expenses, FTCs - March...

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This course will discuss the considerations and caveats of U.S. residents owning foreign rental property. Our seasoned panel of international tax experts will explore U.S. and foreign holding structures, residential and...more

Baker Donelson

SALT Select Developments - February 2024

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Fox Rothschild LLP

The Presumption of Innocence Podcast: Episode 28 - Under the Microscope: Examining the Future of the ERC

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The House Ways and Means Committee recently advanced a bill that gives businesses a proposed deadline of January 31, 2024 to file Employee Retention Credit (ERC) claims. This comes on the heels of recent announcements by the...more

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