The Fifth Circuit held that allocations to a partner in a limited partnership qualify for a statutory exception from self-employment tax if the partner has limited liability. Overturning ...
Davis Polk partner Greg Rowland co-authored the chapter “Cryptocurrency and other digital asset funds for U.S. investors” in Global Legal Insights’ Blockchain & Cryptocurrency Regul...
On July 4, 2025, the President signed into law a significant tax-reform package, known as the One Big Beautiful Bill Act. This update describes key provisions of the new law.
On June 16, 2025, the Senate Finance Committee released its version of the tax title of the House-passed One Big Beautiful Bill Act. The Senate text keeps the “revenge tax” provision ...
On May 22, 2025, the House of Representatives approved the One Big Beautiful Bill Act, which includes a new provision that would increase U.S. tax rates (including withholding tax rates) ...
The House of Representatives passed the One Big Beautiful Bill Act, a much-anticipated suite of proposed tax law changes and revenue offsets, on May 22, 2025. This update describes key pr...
On Monday, President Trump issued a flurry of executive orders on a wide variety of topics, many of which implement changes previewed during his presidential campaign. Three of the execu...
The Trump administration is likely to prioritize tax reform, aligning with Trump’s previous stance on the 2017 Tax Cuts and Jobs Act (TCJA), and taxpayers should be attentive to these c...
Davis Polk partner Greg Rowland co-authored a chapter in Global Legal Insight’s Blockchain & Cryptocurrency Laws and Regulations 2025 titled “Cryptocurrency and other digital asset fu...
In August, the Internal Revenue Service and the Treasury Department proposed regulations expanding the scope of the tax reporting requirements for brokers to apply to sales of digital ass...
