News & Analysis as of

U.S. Treasury Tax Reform Federal Taxes

Jackson Lewis P.C.

New Tax-favored Benefit for Employees with Children

Jackson Lewis P.C. on

Among the federal tax changes made by the “One Big Beautiful Bill Act” (discussed in our prior post) is a new kind of custodial savings account for children (who’ve been issued a social security number) to which their or...more

Fox Rothschild LLP

IRS Increased Audits Of High-Income Individuals During FY2024, But Future Of Initiative Under New Administration Is Doubtful

Fox Rothschild LLP on

A recent report from the Treasury Inspector General for Tax Administration (TIGTA) found that the Internal Revenue Service increased audits of high-income taxpayers during fiscal year 2024, in line with a 2022 Treasury...more

McDermott Will & Schulte

Weekly IRS Roundup November 6 – November 10, 2023

McDermott Will & Schulte on

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 6, 2023 – November 10, 2023...more

McDermott Will & Schulte

Weekly IRS Roundup December 12 – December 16, 2022

McDermott Will & Schulte on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 12, 2022 – December 16, 2022...more

Alston & Bird

Finally! Final Regulations Published for Section 965 Transition Tax

Alston & Bird on

At long last, we have the first set of final regulations for the Tax Cuts and Jobs Act. Our International Tax Group celebrates with a look at how the Treasury and IRS have clarified Section 965 and why taxpayers may need to...more

Fenwick & West LLP

The New Foreign Tax Credit Proposed Regulations – An Executive Summary

Fenwick & West LLP on

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

Morrison & Foerster LLP

New Section 956 Regulations Expand Scope of the New Participation Exemption But May Expose Borrowers to Increased Collateral...

Morrison & Foerster LLP on

On October 31, 2018, the Internal Revenue Service and the Treasury Department issued proposed regulations that would limit the application of Section 956 of the Internal Revenue Code (the “Code”) in an attempt to align it...more

Harris Beach Murtha PLLC

New York State among Four States to Sue Federal Government over State and Local Taxes

Earlier today July 17, 2018 New York State was among four states to sue the federal government over State and Local Tax (SALT) deductions being capped at $10,000 as part of recent federal tax law changes. Joining New York in...more

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