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McGuireWoods LLP
The tax-exempt sector employs 29% of the American workforce and controls nearly $53 trillion in assets according to IRS statistics. Tax-exempt organizations also account for about 26% of the $1.5 trillion...
Cadwalader, Wickersham & Taft LLP
In recent guidance, the IRS blew the whistle on claims of tax-exempt status by organizations formed to provide opportunities for student athletes to monetize their "name, image and likeness".
Cadwalader, Wickersham & Taft LLP
The IRS is using artificial intelligence to assist it in selecting 75 large partnerships for examination.
Cadwalader, Wickersham & Taft LLP
The term perfectly juxtaposes traditionalism with contemporary issues of globalisation.
Cadwalader, Wickersham & Taft LLP
Liberty Global Inc. ("LGI") and the Department of Justice are in fierce litigation over the application of the economic substance and step transaction doctrines to a transaction for which LGI claimed a dividends received deduction for $2.4 billion...
Miller & Chevalier Chartered
The U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) recently released proposed regulations regarding increased credit and deduction amounts available...
Holland & Knight
Citing rising concern over a "flood" of improper Employee Retention Credit (ERC) claims filed by businesses, many with the assistance of ERC claim promoters...
Cooley LLP
The Tax Cuts and Jobs Act of 2017 introduced significant changes to the tax treatment of specified research and experimentation (SRE) expenditures.
Ogletree, Deakins, Nash, Smoak & Stewart
On September 14, 2023, the Internal Revenue Service (IRS) released Employee Retention Credit (ERC) guidance placing a moratorium on processing new ERC claims due to a surge...
Miller & Chevalier Chartered
This week looks hectic as House GOP leaders and the Biden administration stare down each other over funding the government. But before we get to the Saturday shutdown deadline...
Dickinson Wright PLLC
The Employee Retention Tax Credit ("ERC"), enacted as a part of the Coronavirus Aid, Relief and Economic Security Act ("CARES Act"), is a fully refundable tax credit for employers, which is up to...
Duane Morris LLP
On August 29, 2023, the U.S. Department of Health and Human Services responded to President Biden's October 2022 call for a federal review of marijuana scheduling: The drug should be reclassified as a Schedule 3 controlled substance.
Pillsbury Winthrop Shaw Pittman
A California trial court denied summary judgment in the American Catalog Mailers Association's (ACMA) action that seeks to invalidate Franchise Tax Board (FTB) guidance that says certain online...
Shipman & Goodwin LLP
On August 25, 2023, the IRS delayed the requirement, originally slated to be effective in 2024, that catch-up contributions for higher earners be made on a Roth basis.
Kelley Drye & Warren LLP
The Internal Revenue Service (IRS) has begun accepting determination letter applications for individually designed 403(b) plans. An individually designed 403(b) plan is generally...
Cooley LLP
On September 14, 2023, the IRS announced an immediate moratorium on processing new claims for the Employee Retention Credit (ERC). According to the IRS announcement (IR-2023-169)...
Flaster Greenberg PC
On August 29, 2023, the Department of the Treasury and the Internal Revenue Service (IRS) released proposed regulations implementing the Prevailing Wage and Registered Apprenticeship provisions...
Flaster Greenberg PC
On May 31 the Internal Revenue Service issued its second round of guidance for those entities wishing to obtain tax credits...
ORBA
In the face of a flood of illegitimate claims for the Employee Retention Tax Credit (ERC), the IRS has imposed an immediate moratorium through at least the end of 2023 on processing new claims for the credit.
Loyens & Loeff
Loyens & Loeff New York regularly posts ‘Snippets' on a range of EU tax and legal topics. This is our latest Snippet on the upcoming public Country-by-Country reporting ("Public CbCR") obligations in Europe.
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