Tax News Highlights
Each issue features information on the latest tax developments in an easy-to-scan format to help you keep pace with valuable federal, state and local, and international tax updates.
Recent updates
The 2nd Circuit ruled limited partners involved in business management are subject to self-employment tax, clarifying eligibility for the exception.
Treasury and the IRS finalized vehicle loan interest deduction rules, clarifying eligibility requirements while largely retaining proposed regulations
Proposed regulations implement OBBBA changes to CFC subpart F income calculations, ownership rules, taxable years, and reporting.
Recently issued proposed regulations would clarify the rules for the DEI exclusion under OBBBA changes to the Section 250 deduction.
The application period for the 2027 CAP program is open, with requirements similar to those in last year’s program.
Recently proposed regulations reduce the complexity of Section 987 computations for some taxpayers, but the timing of the election matters.
The 2nd Circuit ruled limited partners involved in business management are subject to self-employment tax, clarifying eligibility for the exception.
Treasury and the IRS finalized vehicle loan interest deduction rules, clarifying eligibility requirements while largely retaining proposed regulations
Proposed regulations implement OBBBA changes to CFC subpart F income calculations, ownership rules, taxable years, and reporting.
Recently issued proposed regulations would clarify the rules for the DEI exclusion under OBBBA changes to the Section 250 deduction.
The application period for the 2027 CAP program is open, with requirements similar to those in last year’s program.
Recently proposed regulations reduce the complexity of Section 987 computations for some taxpayers, but the timing of the election matters.
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