Our summary of the Senate Finance Committee draft budget bill provisions covers business, individual, international, and exempt organization tax proposals.
Senate adopts a more defined version of the ‘revenge tax’ on governments and residents of foreign countries imposing ‘unfair’ taxes on US multinationals.
With its draft budget bill now available, the Senate pulls back on some of the cuts to energy tax credits proposed by the House.
The Senate draft budget bill proposes a lower cap on SALT deduction than the House-passed version.
The House and Senate’s draft budget bills could limit a state and local tax workaround for owners of pass-through entities.
A new consultation from the UK government proposes reform of UK tax law in relation to Transfer Pricing, Permanent Establishments and Diverted Profits Tax.
Tax Court rules AbbVie may deduct $1.6 billion break fee paid in failed 2014 Shire transaction.
The Tax Court applied a 'functional analysis' to determine that Soroban Capital’s limited partners were too actively involved in the business to qualify for the SECA limited partner exception.