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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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.
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.
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.
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.
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Rochelle Hodes
Rochelle Hodes
Principal, Washington National Tax