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TaxSlaw
Transferring the Family Business To A Private Foundation? Are You Sure About That?
By Louis Vlahos
Do This But Not That Charitable organizations are dependent, in no small part, upon the financial support of many successful business owners. The generosity of these individuals and their organizations…
Ogletree Deakins Insights
IRS Issues Guidance on Federal Tax Treatment of State Paid Family and Medical Leave Contributions and Benefits
By Publisher, Allen N. Albert, Stephen Kenney
Quick Hits The IRS has clarified the tax treatment of mandatory employee and employer contributions to state PFML funds, as well as optional employer payment of mandatory employee contributions. Employers…
Nonprofit Law Prof Blog
On Mayo Clinics and Unrelated Debt-Financed Income Tax
The Eighth Circuit hasn't yet issued an opinion in Mayo Clinic v. United States. Mayo is probably going to win that case rather easily. One thing missing from the case…
Nonprofit Law Prof Blog
Newman’s Own and An Australian Tax Exempt Feeder: More on UBIT
The Philanthropic Enterprise Act of 2018 made it possible for the Newman's Own Foundation to own 100% of Newman's Own without triggering the excess business holding tax. Newman's Own is…
Tax Withholding & Reporting
IRS Issues Ruling on Tax Treatment of Contributions and Benefits Under State Paid Family and Medical Leave Programs
By Montené Speight, S. Michael Chittenden
The IRS issued Rev. Rul. 2025-4 on January 15, 2025, regarding the federal income and employment tax treatment and related reporting requirements of contributions to, and benefits paid under, a mandatory…
Labor and Employment Law Insights
Employer Strategies for Assisting Employees Amidst California Wildfires: Qualified Disaster Relief Payments
By Allison Scott, Sarah Hamill, Joanna Rivers
High winds and drought conditions have fueled severe wildfires, devastating communities around Los Angeles, California. The fires have destroyed thousands of homes and businesses, while firefighters are working tirelessly to…
Beneficially Yours
How Now, High Five? IRS Issues Proposed Regulations for the Expanded Definition of “Covered Employee” Under Section 162(m) that Applies Beginning in 2027
Seyfarth Synopsis: On January 16, 2025, the IRS issued proposed regulations under Section 162(m) of the Internal Revenue Code of 1986 (the “Code”), which limit the amount of compensation a…
BuildSmart
Inflation Reduction Act Domestic Content Bonus Update: IRS Issues Updated Guidance with First Updated Elective Safe Harbor
By Christopher A. Bowles, Ben Colalillo
On January 16, 2025, the IRS released Notice 2025-08, modifying its prior guidance issued as Notice 2023-38 and Notice 2024-41, for taxpayers seeking to qualify for the domestic content bonus…
Venture Law Blog
Reminder about Annual ISO/ESPP Reporting in January 2025 and New Section 83(b) Election Form
Annual Reporting on ISO/ESPP Transactions As originally discussed in our December 16, 2010 blog article, the IRS issued final regulations in 2009 under Section 6039 of the Internal Revenue Code (the…
Taft Tax Credit Finance Insights
Final Regulations on Partnership Recourse Liabilities Bring Clarity to Certain Tax Allocations
By Taft Law
On December 2, 2024, the IRS published final regulations under Code[1] Sections 704 and 752 (pursuant to authority set forth in Code Section 7805(a)) relating to a partner’s share of…