2023 Tax Outlook Pt. 1: Lame Duck Session, Split Congress Expectations
This two-part series forecasts tax developments the remainder of this month and the new year will bring. Part 1 begins …
Public Comment Sought on Additional Clean Energy Tax Provisions
The Department of the Treasury and the IRS on November 3 issued three additional notices requesting public comment on climate …
Tax Extenders Bill Near, But Fate Hinges on Midterms, House Aide Says
Congress by the end of September could agree to extend Code provisions that are expiring this year, but the outcome …
IRS Delays Effective Date of Final Rules on Dividend Equivalents From U.S. Sources
The IRS has announced that it will extend the phase-in period for Section 871(m) regulations through 2024. Background. In Notice 2018-72, …
Manufacturing Industry on Standby for Mandatory Amortization Fix
Manufacturers are waiting on Congress to reverse an unpopular tax provision enacted by the previous administration that modified the treatment …
Senate Issues Text of Infrastructure Bill
Senate lawmakers over the weekend unveiled the text of the 2,700+ page infrastructure bill (H.R. 3684), setting up a long …
President Biden’s Families Plan Fact Sheet Contains Numerous Tax Provisions
President Biden’s April 28 “Fact Sheet: The American Families Plan” contains numerous tax breaks for low and middle earner taxpayers …
House Passes ARPA COVID-19 Relief Bill
The House on Wednesday passed the $1.9 trillion American Rescue Plan Act of 2021 (ARPA, HR 1319). The Senate passed …