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…
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 income…
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-19…
Treasury has proposed regulations explaining the limits on deductibility of payments under settlements with governmental entities (including certain self-regulatory nongovernmental entities…
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 for…
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,” in…
President Trump has signed two significant executive orders regarding transparency in federal agency guidance and enforcement. This visual memorandum provides an overview of and key…
Section 6751(b) of the tax code requires written approval by an IRS supervisor after an initial determination by an agency employee to assess a penalty on a taxpayer. The broad language of…
The new tax act signed into law on December 22, 2017, popularly known as the Tax Cuts and Jobs Act (“TCJA”), affects U.S. real estate businesses in significant ways. For example, under the…
Our TCJA Navigator makes it easy to locate particular provisions in the text of the Tax Cuts and Jobs Act, the most significant tax legislation to be enacted since the Tax Reform Act of…
