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Withum’s National Tax Policy and Legislative Updates Resource Center is your go-to source for timely updates on tax law and legislative changes. Our team is closely monitoring sweeping tax reform changes, shifting tariffs and tax industry updates, delivering in-depth analysis and actionable insights.
On July 2, 2026, the U.S. Court of Federal Claims decided Keysight Technologies, Inc. v. United States, No. 25-137, holding that the Treasury Department exceeded its statutory authority when it issued a regulation governing the global intangible low-taxed income (GILTI) regime. Days later, on July 10, the deadline passed for taxpayers to file protective refund…
Few accounting judgments can have a greater impact on reported earnings, and yet be more dependent on uncertainty, than the assessment of a valuation allowance. Tough questions are answered more easily when frameworks, benchmarks and tests provide a clear path to a conclusion. Yet some of the most important accounting issues arise in areas where…
New York is expanding access to agricultural tax incentives and related programs for licensed cannabis cultivators through recent legislative changes. As a result, qualifying growers may now be able to take advantage of benefits ranging from property tax relief and refundable investment tax credits to workforce, redevelopment and energy-efficiency incentives. Understanding how these programs work…
For years, S corporations have been the entity of choice for many closely held businesses. The structure offers pass-through taxation, generally avoids a second layer of tax and provides operational flexibility. But as founders of S corporations begin planning for a future sale, many discover one of the most powerful tax incentives available to business…
For decades, some tax advisors viewed First-Time Abate (FTA) relief as a one-time administrative benefit — valuable enough that some taxpayers intentionally chose not to use it for relatively small penalties in order to preserve it for a more significant issue later. That strategy may soon disappear. In a significant administrative shift, the IRS announced…