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Focus on Regulation

Tag Archives: Tax

Border Adjustability Tax in Peril?

The future of the Border Adjustment Tax (BAT) proposal, a critical element of the House Republican tax reform plan, is in doubt after signs of Republican opposition in the Senate emerged last week. Senator David Perdue (R-GA) became the most prominent Republican to overtly criticize the BAT, expressed in a Dear Colleague letter to his

Congress Considering Extension to Nuclear PTC

The U.S. House of Representatives is considering legislation, H.R. 5879, to extend the production tax credit for new nuclear power plants by removing any deadline on awarding the 6,000 MW of nuclear capacity available under the tax credit.

Congressional tax reform effort accelerates: Senate Finance Committee leaders call for “clean slate” and ask for proposals by July 26

The tax reform effort in the U.S. Congress has accelerated this month, with Senate Finance Committee Chairman Max Baucus and Ranking Member Orrin Hatch together issuing a Dear Colleague letter to fellow Senators, asking for their help in crafting a tax reform bill. The letter announced the committee leaders’ intention to mark-up a tax reform

IRS issues favorable guidance on tax credits for wind and other renewable electric generation developers

The Internal Revenue Service has issued highly anticipated guidance in the form of Notice 2013-29, providing guidelines and a safe harbor to determine when the owner of a renewable electricity generation facility (wind, biomass, or other renewable generation sources) is considered to have “begun construction” on any such facility by the end of 2013, making

IRS Publishes Final Regulations re Medical Device Excise Tax

In the December 7, 2012 Federal Register, the IRS issued the final regulations under the medical device excise tax, accompanied by interim guidance that deals with a number of time-sensitive issues including the determination of the taxable sales price and relief from the penalties associated with deposit with the IRS of the correct tax amount. 

U.S. tax reform: elements of reform already being developed by Congress

U.S. businesses and foreign multinationals with U.S. tax obligations should be on alert that the elements of a major U.S. tax reform legislative package are already in development within the U.S. Congress, the Obama Administration, and in interest groups and think tanks in Washington. The make-up of this tax reform package – to be debated