Searching Content indexed under Income Tax by Foley Hoag LLP ordered by Published Date Descending.
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IRS Issues PLR Approving Battery Storage For 25D Tax Credit When Integrated With Solar
As we noted then, we should note now that developers and individuals ought to review this and any other PLR with their own tax counsel, accountants, and tax preparers in light of their own specific facts.
United States
6 Mar 2018
IRS Updates Form 990-EZ For 2016
The IRS released an updated Form 990-EZ, Short Form Return of Organization Exempt from Income Tax with the purpose of helping small to mid-size tax-exempt organizations avoid common mistakes.
United States
22 Mar 2017
FBAR: 2015 Reports Due By June 30, 2016
Every U.S. person that had a financial interest in, or signature or other authority over, one or more foreign financial accounts during 2015 must electronically file an "FBAR" with the U.S. Treasury Department...
United States
20 Jun 2016
A "PATH" To Substantial Tax Savings: Qualified Small Business Stock
In the early 1990s, Congress enacted the qualified small business stock ("QSBS") rules to incentivize equity investments in certain corporations.
United States
16 Jun 2016
Solar And Wind Federal Tax Credits Extended For Five Years
On December 18, 2015, Congress extended the Investment Tax Credit (ITC) and Production Tax Credit (PTC) for five years.
United States
31 Dec 2015
IRS Issues Favorable PLR Allowing An Individual Panel Owner In An Offsite, Net-Metered Community-Shared Solar Project To Claim The Section 25D Tax Credit
Section 25D allows individual taxpayers a federal income tax credit equal to 30% of the qualified solar electric property expenditures made by the taxpayer.
United States
8 Sep 2015
Changes On The Horizon? IRS Announces New Plans To Recharacterize Management Fee Waiver Arrangements
On July 22, 2015, the IRS released proposed regulations that could limit the utility of "management fee waiver" arrangements (the "Proposed Regulations"). Management fees generally are taxable as compensation income.
United States
4 Aug 2015
Cayman Islands Extend FATCA Compliance Deadlines
On May 11, 2015, the Cayman Islands announced the extension of its FATCA registration and reporting deadlines.
Cayman Islands
13 May 2015
Majority Support For A Carbon Tax?
What are the politics of climate change? A new poll done by Stanford University and Resources for the Future suggests that the public may be more ready to regulate carbon carbon taxthan has previously been thought.
United States
21 Apr 2015
2014 Tax Reporting
U.S. citizens, resident aliens and certain non-resident aliens who held any interest in "specified foreign financial assets" at any point during 2014 may be required to file IRS Form 8938 with their 2014 U.S. federal income tax returns.
United States
16 Apr 2015
Taxation Of Copyright Sales: Ordinary Income Or Capital Gain?
Tax day presents several interesting questions for copyright holders.
United States
17 Apr 2014
New Proposals To Tax Carried Interest As Ordinary Income Garner Bipartisan
On March 4, 2014, President Obama issued his Administration’s Fiscal Year 2015 Budget, which includes a proposal to tax carried interests (also known as "performance allocations" or "incentive allocations") in investment partnerships (such as hedge funds and private equity funds) at ordinary income rates.
United States
13 Mar 2014
FATCA: With Deadlines Looming, The Time To Act Is Now
On July 1, 2014, FATCA will go into effect.
United States
4 Mar 2014
Congress Extends The 100% Tax Exemption For Gain On Certain Qualified Small Business Stock, With Retroactive Effect, Through 2013
On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012, among its provisions including a tax benefit whereby capital gains from the sale of exchange of certain qualified business stock held by non-corporate taxpayers can qualify for a 100% exclusion.
United States
22 Jan 2013
FICA Tax "Holiday" Ends With 2012, And Social Security And Medicare Contributions Increase For Some Employees
On January 1, 2013, Congress approved the American Taxpayer Relief Act of 2012, the bill designed to avert the so-called "fiscal cliff."
United States
8 Jan 2013
IRS Releases Revised Form 990 With Changes Affecting Joint Ventures, Compensation And Hospitals
On January 21, 2012, the Internal Revenue Service (IRS) released a revised version of Form 990 and accompanying instructions and schedules for tax year 2011,
United States
3 Feb 2012
Massachusetts Tax Authorities Present Draft Directive on Trader vs. Investor Funds
The Massachusetts Department of Revenue has circulated a draft Directive setting forth the standards the Department proposes to impose for determining whether a professionally-managed fund is a "trader" or "investor" for Massachusetts personal income tax purposes.
United States
19 Jul 2011
Extension on 100% Tax Exemption for Gain on Certain Qualified Small Business Stock
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the "2010 Tax Relief Act") was enacted today. Among its provisions, the 2010 Tax Relief Act extends a tax benefit whereby gains from the sale of certain qualified small business stock ("QSBS") can qualify for a total exclusion from federal income taxation.
United States
22 Dec 2010
Retirement and Pension Plans / Cost of Living Adjustments
The I.R.S. has recently issued its annual cost-of-living adjustments applicable in 2011 to qualified retirement (pension, profit-sharing, § 401(k), money purchase and stock bonus) plans.
United States
21 Dec 2010
New HIRE Act Stimulus to Businesses
As the end of 2010 approaches and we receive numerous inquiries concerning developing hiring plans, I thought you might be especially interested to note some particulars about the Hiring Incentives to Restore Employment Act (the "HIRE Act") which was enacted earlier this year to stimulate prompt hiring of workers by businesses.
United States
13 Dec 2010
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