Perspectives on Tax

On November 8, 2022, voters in several states considered whether to approve state income tax changes. Specifically, voters in Massachusetts voted to impose a 4 percent personal income surtax on income above $1 million; voters in Colorado voted to further limit federal itemized deduction amounts.

Americans woke up on Wednesday, November 9, immediately realizing something was different. On their televisions and other devices, they only saw commercials for products, vacation spots, and reality shows.

ArentFox Schiff has been recognized with 53 top rankings in the 2023 edition of US News – Best Lawyers® “Best Law Firms.”

ArentFox Schiff is pleased to announce that Partner Kristen Hosack Pace was one of 25 recipients of the Family Wealth Alliance’s 2022 Young Professionals in Family Wealth Awards, which honor professionals under 40 who have demonstrated early career success and contributions to their industry.

Following the enactment of the Inflation Reduction Act (IRA) on August 16, the US Treasury Department (Treasury) and the Internal Revenue Service (IRS) recently issued six notices.

Knowing who owns legal entities is essential to stopping terrorism, money laundering, and other sophisticated criminal enterprises. For entities formed in the United States there has never been a requirement to disclose ownership. But that’s about to change.

ArentFox Schiff is pleased to announce the addition of Partner Shira M. Helstrom to the firm’s Tax practice. Based in the Washington, DC office, she brings extensive experience advising tax-exempt organizations on a wide range of tax, transactional, and governance matters.

The US Internal Revenue Service (IRS) recently released Notice 2022-36, in which the IRS announced that it is automatically waiving (and automatically abating, refunding, or crediting, as appropriate) penalties for failure to timely file specified tax returns for the 2019 and 2020 tax years.

Join Matthew Nolan for the 12th SIPS Symposium on Sustainable Development.

ArentFox Schiff is pleased to announce that 121 attorneys have been recognized by The Best Lawyers in America 2023, with an additional six attorneys highlighted as “Lawyers of the Year” and 40 attorneys listed as “Ones to Watch.”

Today, President Joe Biden signed into law the Inflation Reduction Act of 2022 (the “Act”). Although the proposal further restricting the availability of long-term capital gain treatment with respect to carried interests ultimately was dropped from the final version of the bill.

Partner Jill Steinberg spoke with The American Lawyer about ArentFox Schiff’s new Reproductive Health Task Force and the legal challenges that were created when the US Supreme Court overturned Roe v. Wade.

ArentFox Schiff LLP announced today the launch of its Reproductive Health Task Force to counsel clients on legal issues stemming from the repeal of Roe v. Wade.

The 2022 edition of Legal 500 US has rated 77 ArentFox Schiff attorneys as national leaders in their field. In addition, 19 of the firm’s practice areas were ranked among the best in the country.

If yours is one of the many companies considering new employment incentives, enhanced benefits, and retention bonuses, you should also consider taking another look at your non-compete covenants at the same time. They might already be outdated and unenforceable.

The Private Clients, Trusts & Estate practice is sponsoring the annual RPTE National CLE Conference April 26-29, 2022.

Partner Kevin Matz will lead a discussion on estate planning with specialty assets.

Twenty-five Arent Fox LLP practices have been recognized in the 2022 “Best Law Firms” rankings that are published annually by US News & World Report and Best Lawyers.

Schiff Hardin LLP has received 39 top-tier rankings in the 2022 edition of U.S. News – Best Lawyers® “Best Law Firms,” nationally recognizing the firm’s premier practices.

ABA Section of Real Property, Trust & Estate Law

Family Wealth Alliance 2021 Fall Forum

Business owners of entities classified as partnerships or S corporations should take note of a potential opportunity to reduce U.S. federal income taxes through a state tax election to pay state income tax at the entity level.

The House Ways and Means Committee advanced key tax reform proposals on September 15 that would increase taxes for corporations and high-income individuals.

On Sept. 9, President Joe Biden announced that the U.S. Department of Labor is developing an emergency rule to require all employers with 100 or more employees to ensure their workforces are fully vaccinated or show a negative test at least once a week.

Schiff Hardin LLP is pleased to announce it has joined the Japan America Society of Michigan and Southwestern Ontario, a nonprofit organization dedicated to strengthening the ties of friendship between the Japanese, American, and Canadian people in the Greater Detroit and Windsor area.