Worldwide: Corporate Tax

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.

California’s 2026–27 budget package has advanced materially since Gov. Gavin Newsom’s May Revision. The operative tax trailer bill, SB/AB 122, would extend California’s sales and use tax to digital prewritten software...

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.

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.

A common theme we see today in family-owned businesses is the ownership of several lines of business either through a parent corporation with the original business and one or more subsidiaries holding other newer...

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.

On Sunday, May 3, 2026, the Iowa Legislature approved one of the most significant overhauls of Iowa’s property tax and local government finance system in the state’s history.