Tax Law News and Insights

The U.S. Department of the Treasury and the Internal Revenue Service have issued final regulations for the investment tax credit under section 48, providing guidance for projects that start construction by December 31, 2024. Section 48 of the Internal Revenue Code allows taxpayers generally to claim a 30% investment tax...

Read More

Highlights Republican control of the White House, U.S. Senate and U.S. House of Representatives presents an opportunity to enact law without the need for bipartisan support. Specifically, congressional Republicans will use the budget reconciliation process to pass significant legislation, and they could do so early in 2025. The budget reconciliation...

Read More

Q: Should I gift my house to my child to ultimately reduce the Massachusetts Estate Tax due from my estate? A:   The combination of a high federal gift and estate tax exemption ($13.61 Million in 2024) and no Massachusetts gift tax means that a person could make gifts prior to his...

Read More