September 22, 2021

Volume XI, Number 265

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Tax, Internal Revenue Service and Treasury Legal News

Tax law is one of the most complex areas of the law.  The recent legislation, the Tax Cuts and Jobs Acts (TCJA), the first major change to tax law since 1986, had many implications for business owners, as well as private individuals for tax filing purposes. Almost every decision a business makes may have tax consequences, and the National Law Review has legal analysis of the new TCJA legislation as well as updates on the IRS interpretations and guidance documents.

State Tax Laws (SALT)

Additionally, the National Law Review has coverage of many state tax laws, as well as states' responses to the TCJA.   These SALT issues are carefully analyzed by the legal experts who write for the National Law Review.  Along with state income tax rules, there is also information on how states are handling aspects of the gig economy, as well as state responses to changes with the individual mandate under the Affordable Care Act.

GILTI Tax, Estate, Base Erosion Anti-Abuse Tax

From new tax implications under GILTI tax (Global Intangible Low Taxed Income) to deductions under the IRC for gifts and estate transfers, visitors can find the latest stories in relation to both business and personal tax laws. Visitors can read about the implications the TCJA has on multinational companies, how the BEAT tax (Base Erosion Anti-Abuse Tax) is calculated, or the effects estate taxes will have when deciding who to leave property to in a will.

Tax Deductions & Credits

With the evolving tax situations, there are many questions related to which tax credits and deductions are still on the table.  The National Law Review offers analysis of changing tax regulations, interpreting legislation to answer questions related to tax credits like the Family and Medical Leave Tax Credit as well as Historic Tax Credit, and renewable energy tax credits.

The National Law Review also covers stories and news about nonprofit and for-profit organizations, and how the current tax legislation affects these companies. Among the topics covered on the site are transfer taxes, estate taxes, tangible and property tax law, bankruptcy, restructuring, and tax implications on real estate. From news about tax implications on multinational organizations involved in international deals and relations to tax implications under ACA (Affordable Care Act) and HSA (health savings accounts), visitors will always find the latest tax law covered on the National Law Review site.

Updates on Federal Agencies Related to Tax

The National Law Review provides news and coverage on federal taxing agencies including the Internal Revenue Service (IRS), Department of Treasury, and state and local government agencies, which dictate tax laws. For coverage on state, national, federal, and international taxes, and how TCJA affects these taxes, the National Law Review provides the latest, in-depth news coverage for its visitors.

For hourly updates on the latest IRS and tax law news, be sure to follow our Tax Law Twitter feed, and sign up for complimentary e-news bulletins.

Date Title Organization
13
Sep
Louisiana Department of Revenue Issues New Revenue Information Bulletin (RIB 21-025) Addressing Many Frequently Asked Questions Relating to Hurricane Ida Disaster Recovery Jones Walker LLP
13
Sep
Alabama Department of Revenue Proposes Sales/Use Tax Regulations to Unify Casual Sale Rules Jones Walker LLP
10
Sep
McDermottPlus Check-Up: September 10, 2021 McDermott Will & Emery
10
Sep
IRS Acknowledges Limitations on Use of Outside Contractors in Audits McDermott Will & Emery
10
Sep
Pricing Overseas Carbon: The Rise of Border Adjustment Mechanisms on Both Sides of the Pond Mintz
9
Sep
IRS Releases Fact Sheet on Acceptable Electronic Signatures McDermott Will & Emery
8
Sep
Property Damage Suffered as a Result of Hurricane Ida Must be Considered by Assessors into Determining the Fair Market Value Jones Walker LLP
8
Sep
Louisiana Department of Revenue Grants Additional Automatic Extensions For Certain Eligible Businesses and Individuals Impacted by Hurricane Ida Jones Walker LLP
7
Sep
Weekly IRS Roundup August 30 – September 3, 2021 McDermott Will & Emery
7
Sep
ADOR Issues Helpful Estimated Tax Guidance on New Elective PTE Tax Bradley Arant Boult Cummings LLP
4
Sep
Illinois Enacts Pass-Through Entity Tax to Help Partners and S Corporation Shareholders Avoid the $10,000 SALT Cap McDermott Will & Emery
3
Sep
What are the Time Limits for Assessing Additional Federal Tax and Filing a Refund Claim? McDermott Will & Emery
2
Sep
U.S. Treasury Announces $5 Billion Allocation of New Markets Tax Credit Awards Greenberg Traurig, LLP
1
Sep
Tax Relief Available to Victims of Hurricane Ida Jones Walker LLP
1
Sep
Telephonic TEFRA Hearings Are Now Available Through March 31, 2022 Squire Patton Boggs (US) LLP
1
Sep
Following Hurricane Ida, Louisiana Department of Revenue Grants Automatic Filing and Payment Extensions for Tax Returns and Payments with Original or Extended Due Dates on August 31, 2021 Jones Walker LLP
30
Aug
South Carolina Department of Revenue Issues Decision Regarding 2019 Tax Sale Nelson Mullins
30
Aug
Capping 1031 Exchanges Would Cripple Wisconsin’s Commercial Real Estate Economy and Farmers Davis|Kuelthau, s.c.
30
Aug
Weekly IRS Roundup August 23 – August 27, 2021 McDermott Will & Emery
26
Aug
India Moves to Revoke Retroactivity of ‘Vodafone’ Tax – an End to The Saga? Nishith Desai Associates

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