In Loper Bright Enterprises v. Raimondo, the Supreme Court overruled Chevron v. NRDC, holding that Chevron deference to an agency’s permissible interpretation of an ambiguous or silent ...
Recent Supreme Court decisions show a strong and continued rebalancing of power in the administrative state that has been years in the making. This update outlines what it means for the f...
On Tuesday, December 27, 2022, the IRS released a notice that describes proposed regulations that the IRS intends to issue addressing the application of the new corporate alternative mini...
On Tuesday, December 27, the IRS released a notice that describes proposed regulations that the IRS intends to issue addressing the application of the 1% stock repurchase excise tax that ...
On August 7, 2022, the United States Senate approved the Inflation Reduction Act of 2022 (H.R. 5376), an energy and healthcare bill that includes new tax provisions, including a new corpo...
On July 27, Sens. Schumer and Manchin announced an agreement on the Inflation Reduction Act of 2022. Key tax provisions include (1) imposing a 15% corporate AMT on the adjusted book inco...
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides economic support in multiple forms to nonprofit and tax-exempt organizations facing hardship due to the COVID-1...
Treasury has proposed regulations explaining the limits on deductibility of payments under settlements with governmental entities (including certain self-regulatory nongovernmental entiti...
The government’s response to the COVID-19 pandemic and its collateral damage to the economy have been unprecedented. The government has established several programs for people who work ...
If a taxpayer underpays taxes because of negligence, a penalty of 20% applies. Treasury regulations provide for an exception to this penalty, known as “the reasonable basis exception,...
