Worldwide: Tax

When adding a partner or outside investor to your business, understanding the tax implications is crucial for both personal and business finances. This comprehensive guide explores entity structure considerations...

The One Big Beautiful Bill Act has fundamentally transformed Section 1202's qualified small business stock (QSBS) tax benefits, introducing tiered holding periods that allow partial capital gains exclusions...

Illinois has enacted legislation that decouples the state’s income tax from the federal exclusion for gain from the sale of Qualified Small Business Stock (QSBS).

When US multinationals establish operations in Europe, determining how much profit should be allocated to a permanent establishment becomes critical. The Authorised OECD Approach requires a functional...

The U.S. Treasury Department and IRS have issued proposed regulations addressing two significant changes to the Internal Revenue Code made under the One Big Beautiful Bill Act: the allocation of foreign income taxes following the repeal of the one-month deferral election for controlled foreign corporations, and the new partial foreign tax credit disallowance on certain previously taxed earnings and profits distributions. These regulations introduce four new elections that provide taxpayers with greater flex

A federal court has vacated IRS Notice 2025-42, which eliminated the Five Percent Safe Harbor for establishing "beginning of construction" for wind and solar projects seeking federal clean energy tax credits. With less than a month before the July 4, 2026 statutory deadline and an expected appeal, developers face critical decisions about whether to rely on the restored safe harbor or continue with existing compliance strategies under uncertainty.

New York City's pied-à-terre tax took effect on July 1, 2026, imposing a surcharge on certain residential properties that do not serve as a primary residence. A critical question for property owners is whether holding title through a trust or other entity can avoid this surcharge, and the answer depends on how the City applies its "look-through" approach to beneficial ownership. Understanding the primary residence exclusion requirements for trusts and business entities is essential for property owners

Jordan Metzger, a real estate attorney, provides expert analysis on New York City's Pied-À-Terre Tax, explaining how this levy on high-value residential properties affects owners who don't use them as primary residences. The discussion covers the tax's far-reaching implications for property owners, prospective buyers, and co-op boards across the city.

A Florida Circuit Court has ruled that the ballot language for Amendment 3, which proposes changes to homestead property tax exemptions, contains multiple defects that mislead voters about its true effects. The court found that the amendment's title and summary use emotional rhetoric, make improper conclusions, and fail to accurately describe how the measure would impact different classes of property owners and local government taxing authority. The Attorney General now has 10 days to prepare revised ballot

On August 5, 2026, the Tax Court issued its decision in Reed v. Commissioner, T.C. Memo. 2026-64, sustaining most of the IRS’s determinations against Scott L. Reed, a real estate consultant, and Dr. Stacy N. Reed, a physician, for tax years 2012 through 2015.

On August 6, 2026, the IRS released Fact Sheet 2026-13, an expanded set of FAQs on the qualified overtime compensation deduction created by the One, Big Beautiful Bill Act. The update replaces January’s FS-2026-01 and marks the shift from 2025’s transition relief to the full compliance framework now in effect.

When US multinationals establish operations in Europe, determining how much profit should be allocated to a permanent establishment becomes critical. The Authorised OECD Approach requires a functional...