Impact of House-passed H.R. 1 on Financial Services
The House-passed HR 1 proposes major changes for financial services, including limits on PTE tax, a higher SALT cap, and increasing US tax for certain inbound investors.
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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House-passed “One Big Beautiful Bill” includes significant information reporting provisions
House-passed “One Big Beautiful Bill” includes significant information reporting provisions
Washington State enacts significant tax legislation
Washington legislation includes significant tax changes including for B&O tax, sales and use tax, and capital gains tax.
House-passed “One Big Beautiful Bill Act” includes provisions affecting universities, foundations, and other tax-exempts
On May 22, the House passed H.R. 1, proposing broad tax changes that could significantly impact certain tax-exempt organizations, private foundations, and universities.
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