On Budget Day, 21 September 2021 (Prinsjesdag), the Dutch Ministry of Finance presented its 2022 tax plan. For the proposed bills in this plan to have effect, they
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House Proposal Targets Charitable Deductions for Conservation Easements by Passthrough Entities
On Sept. 13, 2021, the U.S. House Ways and Means Committee announced a proposal to limit charitable deductions for conservation easement contributions made by partnerships and other passthrough entities. The
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U.S. Treasury Announces $5 Billion Allocation of New Markets Tax Credit Awards
The United States Department of the Treasury’s Community Development Financial Institutions Fund (CDFI) on Sept. 1 announced $5 billion in New Markets Tax Credit (NMTC) awards with the goal of
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Bradley Marsh and Colin Fraser Featured in Law360 Article, ‘Calif. Appeals Court Asked To Rethink Affirmation Of SF Tax Vote’
Bradley R. Marsh and Colin W. Fraser, both shareholders in GT’s State and Local Tax (SALT) Practice, are included in an Aug. 11 Law360 Tax Authority article titled
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UPDATED: Infrastructure Bill Contains New Cryptocurrency Reporting Requirements
The U.S. Senate passed its infrastructure bill (the “Bill”) that includes additional cryptocurrency reporting requirements, which are expected to generate $28 billion in revenue. The Bill currently does not provide
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IRS Secures Two Court Victories Involving Foreign Financial Activity
On July 28, 2021, the IRS secured two victories in court. The first win allows the IRS to impose an additional 35% penalty on an individual as the sole owner
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PEPs and MEPs: Compliance and Fiduciary Considerations Under the SECURE Act
The pooled employer plan (PEP) and multiple employer plan (MEP) provisions are among the most important retirement plan features of the Setting Every Community Up for Retirement Plan Enhancement (SECURE)
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Section 45Q Revenue Ruling Released – Credit for Carbon Oxide Sequestration
On July 1, 2021, the Internal Revenue Service released Revenue Ruling 2021-13, which addresses several issues relating to qualifying for the Section 45Q carbon capture sequestration credit. This is
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Notice 2021-41: Further Extension of the Continuity Safe Harbor for Renewable Energy Projects
On June 29, 2021, the Internal Revenue Service (IRS) released Notice 2021-41 (the “Notice”) granting additional relief for certain renewable energy projects planning to claim the U.S. federal production tax
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James Lang to Moderate Panel at In-Person 2021 Opportunity Zone Expo
On July 15, GT Shareholder Jim Lang will serve as moderator for the panel titled “Tax Strategies, 1031 Tax Law Reform, and other hot OZ Topics” at the in-person Opportunity
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