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Tax Returns Tax Cuts and Jobs Act Tax Reform

Rivkin Radler LLP

Closely Held Businesses and Their Owners Ask: What’s Big and Beautiful in the Recent Tax Law?

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The “One Big Beautiful Bill Act” (the “Act”) was signed into law last week, on July 4. As promised by the White House, the Act extends – i.e., purports to make “permanent” – many of the otherwise expiring provisions that were...more

Morgan Lewis

New Section 174A Restores Domestic R&E Deductibility, but Other Changes Bring Mixed Results

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President Donald Trump signed into law the One Big Beautiful Bill Act on July 4, 2025. Among many other provisions, this bill permits taxpayers to deduct domestic research and experimentation (R&E) expenditures under new...more

Foster Garvey PC

One Big Beautiful Bill Act, H.R. 1 – 119th Congress (2025-2026): Part I – The SALT Deduction

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On July 1, 2025, the One Big Beautiful Bill Act, H.R.1 – 199th Congress (2025-2026) (the “Act”) was passed in the U.S. Senate (“Senate”). On July 3, 2025, it was passed in the U.S. House of Representatives (“House”) and...more

Allen Barron, Inc.

The Sunset of the TCJA – Tax Cuts and Jobs Act of 2017 – Is Scheduled for the End of 2025

Allen Barron, Inc. on

The sunset of the TCJA – the Tax Cuts and Jobs Act of 2017, is currently scheduled for the end of 2025.  The TCJA contributed substantial changes to the US tax code that have benefited many US taxpayers.  How should a US...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, April 26, 2022

SCOTUS Denies New York v. Yellen. The U.S. Supreme Court announced on Tax Day it would not hear a constitutional challenge to the $10,000 deduction limit on state and local taxes (SALT) enacted under the Tax Cuts and Jobs Act...more

McDermott Will & Schulte

Weekly IRS Roundup May 10 – May 14, 2021

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 10, 2021 – May 14, 2021... May 10, 2021: The IRS issued Revenue Procedure 2021-25,...more

McDermott Will & Schulte

Weekly IRS Roundup February 22 – February 26, 2021

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 22, 2021 – February 26, 2021... February 25, 2021: The IRS issued an alert warning...more

Skadden, Arps, Slate, Meagher & Flom LLP

Challenging Tax Cuts and Jobs Act Regulations and IRS Guidance

The Tax Cuts and Jobs Act (TCJA) brought sweeping changes to the U.S. international tax system. Along with those changes came substantial taxpayer uncertainty as to how the TCJA’s rules apply to their unique circumstances....more

Sands Anderson PC

Tax Reform: Section 199A Qualified Business Income Deduction – Safe Harbor for Rental Real Estate Businesses

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The Internal Revenue Code (“IRC”) Section 199A Qualified Business Income Deduction (“QBI Deduction”) generally provides a 20% deduction (or reduction) of a taxpayer’s qualified net business income received from a pass-through...more

Foodman CPAs & Advisors

Due Diligence is necessary for Taxpayers to have the Right TAX Representative

As 2018 comes to an end, many Taxpayers are wondering about their tax reporting situation under the Tax Cut Jobs Act. Taxpayers ought to be asking themselves if their Tax Representative understands...more

Fenwick & West LLP

The New Foreign Tax Credit Proposed Regulations – An Executive Summary

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Released on November 30, 2018, the foreign tax credit proposed regulations provide a comprehensive new framework for calculating the foreign tax credit in light of several changes made by the Tax Cuts and Jobs Act (TCJA or...more

Bowditch & Dewey

Tax Cuts and Jobs Act: Impact on Mortgage Interest Deductions

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The Tax Cuts and Jobs Act of 2017 (“TCJA”) made substantial changes to the Tax Code of 1986 by reducing tax rates and “simplifying” tax compliance for many by significantly increasing the standard deduction and eliminating...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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China announced yesterday that it was loosening its rules forcing foreign carmakers to link up with a local partner before building factories in China—a move that some see as a step to lowering tensions with the US....more

Foodman CPAs & Advisors

Taxpayers may have to pay Section 965 Transition Tax when filing their 2017 Tax Returns

Section 965 of the Internal Revenue Code requires certain U.S. Shareholders to pay a transition tax on the untaxed foreign earnings of certain Specified Foreign Corporations as if those earnings had been repatriated to the...more

Nossaman LLP

Do You Need to Include Local Lobbying on Your Upcoming Federal Lobbying Disclosure?

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The Tax Cuts and Jobs Act of 2017 included a surprise for some federal Lobbying Disclosure Act (LDA) Registrants: organizations that elect to calculate their lobbying expenses using Method C--the Internal Revenue Code (IRC)...more

Butler Snow LLP

IRS Clarifies Deductibility of Home Equity Loan Interest Following the 2017 Tax Act

Butler Snow LLP on

The IRS recently issued Notice 2018-32, which advises taxpayers on the ability to deduct interest on home equity loans (collectively, a “HELOC”) following the 2017 Tax Act. This is a timely response to the questions that...more

Holland & Knight LLP

Tax Reform's Impact on 401(k) Plan Loan Offset Treatment - Actions for Plan Administrators and Human Resources Benefits Managers

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• The recent Tax Cuts and Jobs Act of 2017 (the Act), enacted on Dec. 22, 2017, contains a few rules that will impact benefit administrators. • This client alert focuses on changes made to the tax treatment of plan loan...more

Burr & Forman

Tax Cuts and Jobs Act – 529 Plan Changes for South Carolina

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The new federal tax law, known as The Tax Cuts and Jobs Act, that was approved by Congress and signed into law at the end of 2017, creates a benefit for individuals paying tuition for children in private or religious schools...more

Gray Reed

New Tax Law – Impacting Your Small Business and You

Gray Reed on

Agreeing with Benjamin Franklin that there is nothing certain except death and taxes, Sketch Wood and his partner Minnie Brix, owners of Wood & Brix, and their 200 employees are certain that the new tax law will affect them,...more

Smith Debnam Narron Drake Saintsing & Myers,...

Divorce Can Be Taxing: How the New Federal Tax Law Impacts Your Family Law Decisions

Everyone is buzzing about the new tax overhaul recently passed by Congress. How does it impact you and your family law choices for 2018 and beyond? In a four-part blog series, we will address the consequences of various parts...more

Akerman LLP - SALT Insights

Tax Reform: With Massive Overhaul Now Law, Prepayment of Property Tax May Benefit New York Property Owners

On December 22, 2017, President Donald J. Trump signed the Tax Cuts and Jobs Act (Act), which beginning in 2018 caps at $10,000 the allowable deduction for payment of state and local income, sales, and property taxes. While...more

Lowndes

IRS Announces Property Tax Prepayments May Not Be Deductible

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One of the outstanding questions from the new tax bill is whether individuals can prepay their 2018 property taxes in advance to claim the full deduction in 2017. The IRS announced in an advisory late Wednesday that prepaying...more

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