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At this point, if Congress does nothing, the Biodiesel Tax Credit will end, and it will be replaced by something that does not incentivize our industry to invest in lower-carbon […]

The IRS recently issued initial guidance on geographic eligibility for the Section 30C Alternative Fuel Tax Credit, which companies have historically utilized for all EV charging station investment and deployment.   The […]

House Democrats late last week released revised text of the partisan, Democrat-only "Build Back Better Act."  The text is largely a stripped-down version of the $3.5 trillion package Democrats unveiled […]

WASHINGTON — The Internal Revenue Service today reminded owners of most heavy highway vehicles of their responsibility to timely file Form 2290, Heavy Highway Vehicle Use Tax Return.

The IRS released a fact sheet summarizing changes from the Tax Cuts and Jobs Act that affect business taxpayers.

In early August the Trump Administration proposed regulations that would implement and interpret the new rules governing pass-through entities pursuant to the comprehensive tax reform law that was enacted last year. As a general matter, section 199A of the tax reform law allows taxpayers other than corporations a deduction of 20 percent of qualified business income earned in a qualified trade or business, subject to certain limitations.

Introduction In late December, 2017, Congress passed the most comprehensive rewrite of the U.S. tax code in more than 20 years. The legislation contains a litany of substantial policy changes […]

Determining how to treat businesses organized as pass-throughs has been one of the more controversial components of the tax reform legislation that congressional negotiators are attempting to finalize before Congress breaks for Christmas.

The House Ways and Means Committee on Nov. 2 released the Tax Cuts and Jobs Act to overhaul major aspects of the U.S. Tax system. The bill will be the subject of Committee consideration next week, kicking off formal tax committee action on the first such overhaul of the U.S. tax system in more than 30 years. Senate Finance Committee Chairman Orrin Hatch (R-UT) announced that he plans to release a Senate Republican version of a tax reform bill after the Ways and Means Committee completes its work, as soon as November 9. The Senate Finance Committee could consider its own plan at the same time the full House votes on its plan in an effort to make as much progress as possible on the legislation prior to Thanksgiving.

In a positive development for ºÚÁÏÉçÇømembers and family businesses throughout the country, the Treasury Department has formally announced that it will withdraw the so-called "Section 2704 regulations" on family business valuation. These regulations would have increased the estate tax (aka "death tax") burden on family businesses.

ºÚÁÏÉçÇøjoined a coalition of more than 120 retailers and trade associations representing millions of jobs in opposing the border-adjustment tax (BAT) proposal in the House Republican’s tax reform plan.

ºÚÁÏÉçÇøjoined more than 132 small business and advocacy organizations across the United States in supporting the Death Tax Repeal Act of 2017, which would end the federal estate tax.