Tax News Highlights

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

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Professional uses Excel on a laptop to build and review a modern tax model.
The Role of Microsoft Excel™ in Modern Tax Models
Tax teams that integrate analytics tools into their processes can improve and streamline accuracy over those relying on spreadsheets alone.
Ohio CAT Sourcing – Lessons From Two Cases
Ohio CAT Sourcing – Lessons From Two Cases
Two recent Ohio supreme court decisions offer guidance on when the Ohio commercial activity tax applies for sales of goods received in the state.
Two professionals review documents in a meeting, representing tax planning decisions related to Section 163(j) election changes.
Withdrawing Elections Out of Section 163(j)
Certain taxpayers that elected to opt out of Section 163(j) have a window to withdraw their election given the changes made by the OBBBA.
Group Exemption Program Restarts
Group Exemption Program Restarts
Recent IRS guidance restarts the program allowing group exemptions for exempt entities with subordinate organizations and provides updated procedures.
Removal of Partnership Basis-Shifting Regs
Removal of Partnership Basis-Shifting Regs
Newly released proposed regulations would remove the onerous and broad partnership basis-shifting disclosure obligations for partnerships.
New Procedures for Tariff Refunds
New Procedures for Tariff Refunds
Many importers could be entitled to refunds after the Supreme Court ruled that tariffs imposed by the Trump administration were illegal.
Professional uses Excel on a laptop to build and review a modern tax model.
The Role of Microsoft Excel™ in Modern Tax Models
Tax teams that integrate analytics tools into their processes can improve and streamline accuracy over those relying on spreadsheets alone.
Ohio CAT Sourcing – Lessons From Two Cases
Ohio CAT Sourcing – Lessons From Two Cases
Two recent Ohio supreme court decisions offer guidance on when the Ohio commercial activity tax applies for sales of goods received in the state.
Two professionals review documents in a meeting, representing tax planning decisions related to Section 163(j) election changes.
Withdrawing Elections Out of Section 163(j)
Certain taxpayers that elected to opt out of Section 163(j) have a window to withdraw their election given the changes made by the OBBBA.
Group Exemption Program Restarts
Group Exemption Program Restarts
Recent IRS guidance restarts the program allowing group exemptions for exempt entities with subordinate organizations and provides updated procedures.
Removal of Partnership Basis-Shifting Regs
Removal of Partnership Basis-Shifting Regs
Newly released proposed regulations would remove the onerous and broad partnership basis-shifting disclosure obligations for partnerships.
New Procedures for Tariff Refunds
New Procedures for Tariff Refunds
Many importers could be entitled to refunds after the Supreme Court ruled that tariffs imposed by the Trump administration were illegal.
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Rochelle Hodes
Rochelle Hodes
Principal, Washington National Tax