Section 174A restores optionality to tax treatment of US research activities
New Section 174A permits an immediate deduction for domestic research and experimental expenditures paid or incurred in tax years beginning after December 31, 2024.
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Steel and aluminum goods subject to Section 232 tariffs expanded
The US Bureau of Industry and Security on August 19 added 407 HTSUS codes to the steel and aluminum derivative products list under Section 232.
Audiocast: Navigating GP Stakes – Key tax considerations
Thinking of entering into a GP stakes transaction? In this Financial Services audiocast, we explore the nuances of these deals, unpacking the tax complexities and growing popularity.
IRS Notice sheds light on construction rules for wind and solar credits
Notice 2025-42 has changed existing guidance on the beginning of construction rules a taxpayer must use to claim the clean electricity credits under Sections 45Y and 48E.
Before you back the chef, understand the tax recipe behind a GP stake deal
GP stake deals can offer strong upside, but require careful tax, structuring, and ownership planning to protect value and optimize post-tax returns.
Puerto Rico tax amendments
Between April and July 2025, the Puerto Rico legislature approved various tax laws that collectively reshape critical areas of the Puerto Rico Internal Revenue Code.
President Trump advances trade agenda with updated tariffs, announces additional trade agreements
President Trump continues to advance his trade agenda through tariffs on copper, suspension of the duty-free de minimis exemption, and new reciprocal tariff rates, among others.
Interim guidance simplifies application of the Corporate Alternative Minimum Tax to partnerships
Notice indicating intent to partially withdraw proposed CAMT regs that relate to partnerships and provide interim guidance simplifying the application of CAMT to partnerships.
Expansion of PTP qualifying income to low carbon energy activity
OBBA includes a provision expanding the definition of qualifying income for publicly traded partnerships to certain low-carbon energy activities.
Maryland releases emergency rules and guidance for sales tax on technology services
The Maryland Comptroller has issued emergency regulations and two technical bulletins clarifying the 3% tax on technology services.
IRS seeks to streamline exams for large corporate taxpayers
An LB&I memorandum details changes to examinations of large corporate taxpayers and modifies policies and practices in the Internal Revenue Manual.
Trump Administration sets forth its Digital Assets agenda
President Trump issued Executive Order 14178 which required the formation of a working group to recommend regulatory and legislative proposals related to digital assets.
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