JD Supra

Internal Revenue Code Section 162(m): Proposed Regulations

On January 14, 2025, the Internal Revenue Service and the US Treasury Department issued proposed regulations under Section 162(m) of the Internal Revenue Code (Code) to implement changes under the ...
JD Supra

Practical 1031: What is an Internal Revenue Code Section 1031 Like-Kind Exchange?

Question: What is an Internal Revenue Code Section 1031 Like-Kind Exchange? Answer: Section 1031 of the Internal Revenue Code allows a taxpayer who owns business or investment real estate to “exchange ...
SmartAsset on MSN

What does it mean to be "tax exempt?"

Taxes are an unavoidable part of life for most people. You could, however, get out of paying income tax if you're deemed ...
JD Supra

Treasury Department and IRS Issue Final Regulations Regarding the Clean Electricity Tax Credits Under Sections 45Y and 48E of the Internal Revenue Code

On January 7, 2025, the U.S. Department of Treasury (Treasury) and the Internal Revenue Service (IRS) released final regulations [TD 10024] (Final Regulations) providing guidance on the Clean ...
JD Supra

Proposed regulations explain the expansion of “covered employees” under Code Section 162(m)

On January 14, 2025, the Department of the Treasury and the Internal Revenue Service issued proposed regulations (Proposed Regulations) relating to the expansion of the definition of “covered ...
JD Supra

Treasury and IRS Issue Final Regulations on the Credit for Production of Clean Hydrogen Under Section 45V of the Internal Revenue Code

The final regulations retain the general framework of the proposed regulations, with some important modifications based upon comments from industry members. The acquisition and retirement of energy ...
JD Supra

IRS Proposes Regulations on Expanded Definition of Covered Employee Under Code Section 162m

Section 162(m) of the Internal Revenue Code prohibits a publicly held corporation from taking compensation-related tax deductions with respect to the compensation of a “covered employee” to the extent ...
JD Supra

Treasury Department and IRS Issue Final Regulations on the Advanced Manufacturing Production Credit Under Section 45X of the Internal Revenue Code

Under the final regulations, taxpayers are permitted to produce eligible components using recycled materials. Components which are sold and then later become defective will not be considered defective ...
The National Law Review

Hatch-Waxman Litigation Expenses Are Deductible Under Internal Revenue Code § 162(a)

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...
Wealth Management

What Happens When A Charitable Trust Distributes All Its Assets to a Private Foundation?

IRS Private Letter Ruling 202550004 addresses tax implications when charitable trust distributes all assets to private ...