Tax Law News and Insights

Highlights Under Proposed Regulations issued in October 2024 by the U.S. Department of the Treasury and IRS, an entity wholly owned by one or more Tribal governments and organized or incorporated under the laws of the Tribe or Tribes that own it (Tribally chartered entities) is not recognized as a...

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Key Takeaways: A 1% excise tax on stock repurchases by publicly traded corporations, introduced by the Inflation Reduction Act of 2022, now requires reporting starting from taxable years ending after December 31, 2022. The final regulations clarify the due dates for Form 720 and Form 7208, and for tax years...

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Treasury and the IRS have finalized a new "disregarded payment loss" (DPL) regime that can require domestic corporations to include in income amounts with respect to payments that are disregarded for US tax purposes but that are deductible under foreign tax law. Proposed regulations addressing DPLs, as well as aspects...

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