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.
Accounting Methods Spotlight Q3 2024
October 2024
This quarter’s Accounting Methods Spotlight newsletter features:
- New proposed rules on CAMT
- IRS expands automatic method changes permitted for Section 174 costs
- Proposed regulations published on energy credit provisions
- Court denies Section 179D deductions
- Recaptured ESOP gains subject to installment method
- IRS challenges Section 199 deduction for software
- FAQs clarify registration for clean fuel production credit
- Treasury/IRS updates priority guidance plan
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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.
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