Tax Law News and Insights

Since the American Rescue Plan Act ("ARPA") was enacted in March 2021, employers and insurers have been diligently familiarizing themselves with the rules for administering the temporary 100% COBRA premium subsidy established under the law and preparing and sending notices to potential "Assistance Eligible Individuals" who may qualify for the subsidized...

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For federal income tax purposes, a person may not be treated as both a "member" and an "employee" of a limited liability company (an "LLC"). This law bulletin discusses: (a) the alternatives that may be used to award LLC membership interests to an individual while preserving the ability to treat...

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On May 24, 2021, the US Internal Revenue Service (IRS) released Notice 2021-32, which provides the inflation-adjustment factors and reference prices for the calculation of renewable electricity production tax credits (PTCs) under Internal Revenue Code (IRC) section 45 for calendar year 2021. The notice provides that the PTC for electricity...

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