Tax Law and International Tax Law

Many dealers are in a situation where they did not timely report "clean vehicle credit transactions" to the IRS for sales that occurred in 2024.

As an update to our earlier post on the status of tax legislation making its way through Congress, the quote below, from a recent Bloomberg article...

Leadership transitions are always critical moments for any organization, and when it comes to a vacancy in the tax department, the stakes are high. The role of a tax department head is pivotal in ensuring compliance, driving efficiency, and optimizing the company's financial strategies.

While the word "basket" may trigger a mental image of a bicycle with a daisy basket that is a gift in early childhood, the term has a totally different connotation in the tax world. It denotes "foreign tax credit baskets" to an international tax geek in the U.S.

Many business owners view a large tax refund as a positive outcome—proof that they've managed their finances well. However, in reality, a sizable refund often indicates...

For international businesses considering expansion into U.S. territories, a clear understanding of U.S. laws for foreign companies is essential. While it may seem that doing business...

Many of our clients are interested in engaging in global philanthropy. These individuals often want to benefit charitable causes outside of the United States while still being able to maintain an income tax deduction ...

§ 2801 of the Internal Revenue Code of 1986, as amended (the "Code") imposes a tax a U.S. citizen or resident who receives a "covered gift" or "covered bequest" from certain individuals...

The application of the foreign tax credit to the net investment income tax ("N.I.I.T.") has been a recurring battle in courtrooms in recent years. In the most recent installment...

The Obama administration submitted a budget proposal on Feb. 13 with trillions of dollars in proposed tax changes. The tax platform in the budget proposal is largely an amalgamation of provisions from earlier legislative initiatives and previous budgets, but it does include several significant new proposals affecting high-income individuals and multinational taxpayers.

On February 14, 2011, the Obama Administration Fiscal Year 2012 Budget and the Department of the Treasury "General Explanations of the Administration’s FY2012 Revenue Proposals" (the "Budget") were released.

The fiscal 2012 state budget proposed by Governor Malloy includes a provision to increase the resident user fee (provider tax) for nursing homes.