With its decision in South Dakota v. Wayfair, the US Supreme Court substantially eliminated the distinction between brick-and-mortar business and e-commerce, for purposes of state laws obligating sellers to collect and remit sales taxes.
On December 22, 2017, President Trump signed sweeping tax reform legislation, the Tax Cuts and Jobs Act (TCJA). Following are summaries of some of the key provisions affecting the real estate industry.
Recently, one particular news release has sparked much confusion: the one that says the IRS thinks taxpayers cannot deduct prepaid 2018 property taxes on their 2017 tax returns.
The Tax Cuts and Jobs Act (the “Act”) will dramatically change the tax treatment of income from many partnerships, limited liability companies, and S corporations.
The US Supreme Court agreed on Friday to hear a case that could fundamentally reshape the rules concerning collection of sales tax on out-of-state sales.
Congressional Republicans have reached an agreement on a tax reform proposal that will dramatically change the US tax code. The final agreement will have widespread implications for small business, partnerships, and multinational corporations.
Arent Fox attorneys recently represented Tritec Real Estate, as master developer, in a $600 million Long Island mixed-use development project that will include 1,450 apartment units and 545,000 square feet of retail and office space.
Twenty-two Arent Fox LLP practices have been recognized in the 2018 “Best Law Firms” rankings that are published annually by U.S. News & World Report and Best Lawyers.
Arent Fox senior policy advisor and former US Senator Byron Dorgan (D-ND) was quoted in the The New York Times article, “Tax Reform, Reagan Style, May Be a Tougher fit for Trump.”
In the Morning Consult article “Republican Tax Overhaul Likely to Touch on Individual Provisions,” Republican plans to overhaul tax policies are discussed at length.
In the Bloomberg BNA article “House Expected to Move Tax Revamp First; Senate to Act Later,” President-elect Donald Trump’s tax policy is discussed at length.
From large corporations to small nonprofits, from urban centers to rural communities, the 2016 elections will have an impact across all sectors of the economy and globally as well.
The new partnership tax audit rules enacted by Congress on November 2, 2015 could have a dramatic impact on partnerships and their partners (including limited liability companies taxed as partnerships (“LLCs”) and their members).
On August 2, 2016, the IRS issued long-awaited proposed regulations that apply to valuation discounts for transfers of ownership interests in family-controlled entities.
Eight Arent Fox attorneys have been named “Best Lawyers” by Washingtonian Magazine in its 2015 guide to the capital area’s “top legal talent” in 21 categories.