United States: Corporate Tax

The Department of the Treasury and IRS have announced their intent to issue proposed regulations addressing significant changes to the excise tax on excess compensation paid to employees of tax-exempt organizations.

Megan Monson, Taryn Cannataro, and Zachary Bocian explore Internal Revenue Code Sections 457(b) and 457(f), examining how tax-exempt organizations and state and local governments can utilize these deferred compensation vehicles.

Trusts serve as essential instruments for estate and tax planning, offering asset protection and control. Key considerations include understanding tax implications of income distribution versus accumulation, proper trust funding procedures, selecting between individual and corporate trustees, and navigating common implementation pitfalls that can undermine trust effectiveness.

The U.S. Department of Treasury and Internal Revenue Service held a three-day hearing in May 2026 to address industry concerns about proposed regulations for the Section 45Z clean fuel production tax credit.

Many companies across Texas are investing in technology, equipment, and facilities to support growth.

Recent court decisions interpreting COVID-19 disaster period tax law may entitle tens of millions of taxpayers to refunds or abatements of federal penalties and interest assessed during 2020-2023.

Hybrid capital instruments are transforming private capital markets by offering flexible financing solutions that bridge traditional debt and equity.

A recent decision from the New York County Commercial Division reminds litigants that even under New York’s liberal discovery standards, sensitive business information like client lists is not automatically discoverable.

The IRS has finalized regulations that significantly modify how partnerships report information when partners sell or exchange their interests in partnerships holding inventory or unrealized receivables. These changes eliminate certain January 31 reporting deadlines while maintaining other compliance obligations, creating a bifurcated reporting timeline that partnerships and their advisors must navigate carefully.