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U.S. Treasury Tax Liability Federal Taxes

McDonnell Boehnen Hulbert & Berghoff LLP

Death and Taxes Should not be Certainties for the Patent System

The Department of Commerce has floated a proposal to tax U.S. patent holdings as a means of reducing the national debt, as outlined in a recent Wall Street Journal article. It is a bad idea that reflects a troubling...more

Eversheds Sutherland (US) LLP

Treasury and IRS release final regulations on elective payment election under CHIPS Act Section 48D

On March 5, 2024, the Department of Treasury (Treasury) and the Internal Revenue Service (IRS) issued final regulations (Final Regulations) on the elective payment election of the advanced manufacturing investment credit...more

Jones Day

IRS Updates Fast-Track Program for Certain Corporate Tax Rulings

Jones Day on

A new program offers rulings in 12 weeks, even absent a showing of business need. Revenue Procedure 2023-26, issued July 26, 2023, in replacement of a popular 18-month pilot program under Revenue Procedure 2022-10,...more

Perkins Coie

Tax Relief and Estate Planning Strategies in the Wake of COVID-19

Perkins Coie on

IRS Grants Automatic Extension of Federal Tax Returns - Between March 17 and April 9, 2020, the U.S. Department of the Treasury and the Internal Revenue Service issued a series of notices automatically extending to July 15...more

Foster Garvey PC

The IRS and Treasury Are Working Overtime to Provide Taxpayers with Joy, Hope and Optimism During These Trying Times

Foster Garvey PC on

NOTICE 2020-23 - On April 9, 2020, the U.S. Secretary of the Treasury issued Notice 2020-23. It greatly expands the tax compliance relief previously granted to taxpayers in response to the COVID-19 pandemic....more

Foster Garvey PC

Treasury Delivers Some More Good News – Notice 2020-20

Foster Garvey PC on

On March 13, 2020, President Trump issued an emergency declaration that, in part, instructed the U.S. Department of the Treasury (“Treasury”) to provide taxpayers with “relief from tax deadlines” due to the impact of the...more

Seyfarth Shaw LLP

The Secretary of Treasury Selects April 1 as the Effective Date for purposes of the Tax Credits under the Families First...

Seyfarth Shaw LLP on

Seyfarth Synopsis: The tax credits afforded to certain employers and self-employed individuals by the Families First Coronavirus Response Act (FFCRA) are in effect for the period from April 1, 2020 to December 31, 2020. ...more

White and Williams LLP

IRS Announces Income Tax Filing and Payment Relief due to Coronavirus Pandemic

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The Treasury Department and Internal Revenue Service (IRS) have brought clarity to the 2019 income tax return filing and tax payment due dates. President Trump previewed the planned income tax relief in his March 13, 2020...more

Bracewell LLP

COVID-19 Tax Update: Tax Return Filing and Tax Payment Relief

Bracewell LLP on

Last week, in a pair of notices released under President Trump’s March 13, 2020 Emergency Declaration relating to the coronavirus pandemic, the IRS and the Treasury Department offered relief for tax return filing and tax...more

Foster Garvey PC

Treasury Delivers Some Good News in a Time When Good News Is Rare

Foster Garvey PC on

On March 13, 2020, President Trump issued an emergency declaration, which in part instructed the U.S. Department of the Treasury (“Treasury”) to provide taxpayers with “relief from tax deadlines” due to the impact of the...more

Akin Gump Strauss Hauer & Feld LLP

Federal Income Tax Payment and Filing Deadline Delayed to July 15 Amid COVID-19 Crisis

In guidance published March 18, 2020 (Notice 2020-17), the Internal Revenue Service (IRS) postponed the payment deadline from April 15, 2020, until July 15, 2020, for federal income tax payments (including payments of tax on...more

McDermott Will & Schulte

Weekly IRS Roundup September 16 – 20, 2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 16 – 20, 2019. September 16, 2019: The IRS issued a news release about time-limited...more

Morgan Lewis

New Legislation Makes Sweeping Changes Impacting All Partnerships

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All partnerships will be audited at the entity level unless they have 100 or fewer partners AND no partnerships as direct partners. The two-year budget plan passed by Congress on October 30, 2015, and expected to be...more

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