Tax Law News and Insights

The IRS Independent Office of Appeals ("IRS Appeals") was established to provide an "independent" IRS function that is separate and independent from the IRS's compliance functions that maintain responsibility for collecting and assessing taxes. By statute, its function is to resolve tax controversies without litigation on a basis that: (1)...

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On August 7, 2022, the US Senate passed the Inflation Reduction Act (House Resolution 5376), which contains tax, climate and healthcare provisions. The legislation is widely expected to be passed by the House of Representatives without changes and signed into law by President Joseph R. Biden shortly thereafter. The Inflation...

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Below is a summary of the tax provisions in the Inflation Reduction Act of 2022 (the “IRA”), as passed by the Senate, that are likely to be of most interest to U.S. corporate taxpayers, financial institutions, hedge funds, private equity funds, and their investors. The IRA now heads to the...

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