On October 10, Representative Matt Cartwright (D-PA) introduced the Bill Pascrell Ending Tax Giveaway Act with the goal of “closing the controversial carried interest loophole.”
With its emphasis on corporate tax cuts and simplifying international taxes, Trump’s tax plan aims to eliminate the energy tax credits that have gained substantial traction over the past two years.
The Chancellor of the Exchequer delivered the United Kingdom Autumn Budget for 2024. You can access our Clients & Friends Alert where we outline key measures and takeaways here.
On November 1, 2024, the IRS released an Office of Chief Counsel memorandum, which detailed when frozen digital asset rewards held on bankrupt digital asset platforms should be included in gross income.
On October 4, 2024, the IRS released PLR 202440007, concluding that a REIT with no assets or income in its first year did not fail the REIT asset or income tests.