Tax Law News and Insights

On May 12, 2025, the House Ways and Committee released an updated text of draft tax legislation (the "House Draft Bill"). Amongst the proposed provisions are a few significant changes that could particularly affect nonprofits and individuals working with or for nonprofits: Nonprofits would be required to pay tax on the sale...

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I. Overview Proposed Section 8991, introduced as part of the "Defending American Jobs and Investment Act" (H.R. 591) and incorporated into the House Ways and Means Committee's tax package titled "The One, Big, Beautiful Bill" (the "Bill"), aims to impose retaliatory tax measures against non-US countries deemed to levy discriminatory...

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Assume that you want to make a tax-free exchange of your apartment building (the "relinquished property") for a retail strip center (the "replacement property"). You located a great deal on a retail center, but only if you close in 30 days. However, your buyer for the apartment cannot get its...

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