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Steptoe LLP
Partner Lauren Azebu authored an article titled "Offshore and Out of Mind: Reporting Foreign Assets and Gifts" for The Tax Adviser.
Holland & Knight
In holding that that Treas. Reg. § 1.170A-14(g)(6)(ii) (Proceeds Regulation) is procedurally invalid under the Administrative Procedure Act (APA), the U.S. Tax Court abandoned...
Crowell & Moring LLP
Tax partner Carina Federico and Tax counsel Eleanor Moran McWaters discuss IRA and Tax Exempt Entities.
Lane Powell
The Washington Department of Revenue continues to update its guidance on Washington's excise tax on long-term capital gains, resulting in the most recent proposed rule, WAC 458-20-301.
Gray Reed & McGraw LLP
In a recent Tax Court decision, the court reviewed the activities of the Huffman family as it pertained to corporate dealings involving the family aviation business...
Caplin & Drysdale
Taxpayers watching the U.S. Supreme Court for the outcome of Moore v. U.S., No. 22-800, can do more than wait. As suggested in the firm's earlier alert (see here)...
Thompson Coburn LLP
Individual taxpayers who itemize deductions on their federal income tax returns generally can offset federal taxable income for taxes paid to state and local governments.
McDonald Hopkins
From 2020 to 2023, there was a high degree of uncertainty in the future of tax and estate planning. With significant elections and mixed predictions, estate and tax advisors demonstrated...
Alvarez & Marsal
The Internal Revenue Service (IRS) has announced that its compliance efforts have protected over $1 billion in revenue since last fall, focusing on erroneous Employee Retention Credit (ERC) claims.
Greenberg Traurig, LLP
On March 11, the Treasury Department and Internal Revenue Service (IRS) issued final regulations (Final Regulations) under Section 6417 of the Internal Revenue Code (Code), providing rules...
The International Compliance Assurance Program is a voluntary program that helps companies assess international tax risks to quickly achieve greater tax certainty across multiple jurisdictions...
Farrell Fritz, P.C.
Most communities across New York, whether they're in the shadow of the Manhattan skyline or a stone's throw from a Finger Lake...
Nossaman LLP
It is spring. Flowers are blooming; the rivers swell with snowmelt from the mountains; newly thawed Northern ponds welcome the return of their ducks and geese; Florida convulses with an annual migration of revelers.
Liskow & Lewis
On March 22, 2024, the Treasury Department published a proposed regulation relating to certain transactions involving Charitable Remainder Annuity Trusts ("CRATs") investing in single premium immediate annuities ("SPIAs").
Kelley Drye & Warren LLP
U.S. citizens and residents who have received gifts (including bequests) exceeding certain thresholds from foreign persons must generally report such gifts to the IRS. Recipients...
Sideman & Bancroft
In the taxnotes article "IRS Seeks Outside Help Applying Big Data" , author Lauren Loricchio discusses how the IRS has issued a request for information...
Gray Reed & McGraw LLP
The IRS's ERC voluntary disclosure program has drawn concern from tax attorneys due to uncertainty around entering into the program and still being subjected to criminal prosecution.
Proskauer Rose LLP
On March 11, 2024, the Biden Administration released the Fiscal Year 2025 Budget, and the "General Explanations of the Administration's Fiscal Year 2025 Revenue Proposals,"...
Holland & Knight
The Chips and Science Act of 2022 (CHIPS Act) added Section 48D to the Internal Revenue Code to incentivize the production of semiconductors and semiconductor manufacturing equipment in the United States.
Cadwalader, Wickersham & Taft LLP
Over the last three months, public statements by U.S. Treasury and Internal Revenue Service officials have suggested that they are in the process of significantly revising...
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