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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IRS Eases Foreign Currency Gain and Loss Rules
IRS Eases Foreign Currency Gain and Loss Rules
The IRS released a preview of changes to foreign currency gain and loss rules, making it easier for CFCs to calculate income.
IRS Notice Adds Favorable CAMT AFSI Adjustments
IRS Notice Adds Favorable CAMT AFSI Adjustments
The IRS released interim guidance that provides relief from some of the complexities under the corporate alternative minimum tax (CAMT) regime.
Charitable Hospital Ancillary Joint Ventures
Charitable Hospital Ancillary Joint Ventures
Hospital organizations with joint ventures with for-profit partners should assess the structures in the face of continued IRS enforcement activities.
Guidance on OBBBA Manufacturing Deduction
Guidance on OBBBA Manufacturing Deduction
The IRS and the U.S. Department of the Treasury released much-needed guidance on the Section 168(n) depreciation allowance for manufacturing.
The Patchwork of State Conformity to the OBBBA
The Patchwork of State Conformity to the OBBBA
As states decide how to conform to the provisions of the OBBBA, it could be challenging for taxpayers to know how to proceed this filing season.
California issued new apportionment rules for certain asset management revenue, potentially changing who is required to file a California return.
CA Issues Asset Management Sourcing Guidance
California issued new apportionment rules for certain asset management revenue, potentially changing who is required to file a California return.
IRS Eases Foreign Currency Gain and Loss Rules
IRS Eases Foreign Currency Gain and Loss Rules
The IRS released a preview of changes to foreign currency gain and loss rules, making it easier for CFCs to calculate income.
IRS Notice Adds Favorable CAMT AFSI Adjustments
IRS Notice Adds Favorable CAMT AFSI Adjustments
The IRS released interim guidance that provides relief from some of the complexities under the corporate alternative minimum tax (CAMT) regime.
Charitable Hospital Ancillary Joint Ventures
Charitable Hospital Ancillary Joint Ventures
Hospital organizations with joint ventures with for-profit partners should assess the structures in the face of continued IRS enforcement activities.
Guidance on OBBBA Manufacturing Deduction
Guidance on OBBBA Manufacturing Deduction
The IRS and the U.S. Department of the Treasury released much-needed guidance on the Section 168(n) depreciation allowance for manufacturing.
The Patchwork of State Conformity to the OBBBA
The Patchwork of State Conformity to the OBBBA
As states decide how to conform to the provisions of the OBBBA, it could be challenging for taxpayers to know how to proceed this filing season.
California issued new apportionment rules for certain asset management revenue, potentially changing who is required to file a California return.
CA Issues Asset Management Sourcing Guidance
California issued new apportionment rules for certain asset management revenue, potentially changing who is required to file a California return.
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Rochelle Hodes
Rochelle Hodes
Principal, Washington National Tax