-
1 week ago | 
mondaq.com | Kenneth Parsons |Nicole Elliott |Kayla Gebeck Carroll |Isabella Warren
The U.S. Department of the Treasury on March 25, 2025, publisheda notice titled "Compliance Reviews and Related RecoupmentEfforts," informing all Coronavirus State and Local FiscalRecovery Funds (SLFRF) recipients that the Treasury Departmentintends to vigorously monitor recipients' methods of obligatingfunds by the Dec. 31, 2024, deadline, as well as recapture anyfunds obligated in violation of SLFRF rules and guidance andunobligated funds.
-
Jan 16, 2025 | 
mondaq.com | Kenneth Parsons |Rachel Provencher
Under Proposed Regulations issued in October 2024 by the U.S.Department of the Treasury and IRS, an entity wholly owned by oneor more Tribal governments and organized or incorporated under thelaws of the Tribe or Tribes that own it (Tribally charteredentities) is not recognized as a separate entity for federal taxpurposes and, therefore, is not subject to federal income tax.
-
Jan 10, 2025 | 
jdsupra.com | Kenneth Parsons |Rachel Provencher
Under Proposed Regulations issued in October 2024 by the U.S. Department of the Treasury and IRS, an entity wholly owned by one or more Tribal governments and organized or incorporated under the laws of the Tribe or Tribes that own it ("Tribally chartered entities") is not recognized as a separate entity for federal tax purposes and, therefore, is not subject to federal income tax.
-
Sep 19, 2024 | 
mondaq.com | Rachel Provencher |Kenneth Parsons
HK
Holland & Knight
More
Holland & Knight is a global law firm with nearly 2,000 lawyers in offices throughout the world. Our attorneys provide representation in litigation, business, real estate, healthcare and governmental law. Interdisciplinary practice groups and industry-based teams provide clients with access to attorneys throughout the firm, regardless of location.
The U.S. Department of the Treasury and IRS on Sept.
-
Sep 19, 2024 | 
jdsupra.com | Kenneth Parsons |Rachel Provencher
The U.S. Department of the Treasury and IRS on Sept. 17, 2024, released long-awaited proposed regulations on the Tribal General Welfare Exclusion Act of 2014 (Proposed Regulations). The Proposed Regulations reflect many priorities of Indian Country, including substantial deference to Tribes as they create and implement general welfare exclusion (GWE) programs. However, work remains to improve clarity of the guidance and address unresolved issues.
-
Sep 18, 2024 | 
lexology.com | Kenneth Parsons |Rachel Provencher
HighlightsThe U.S. Department of the Treasury and IRS on Sept. 17, 2024, released long-awaited proposed regulations on the Tribal General Welfare Exclusion Act of 2014 (Proposed Regulations). The Proposed Regulations reflect many priorities of Indian Country, including substantial deference to Tribes as they create and implement general welfare exclusion (GWE) programs. However, work remains to improve clarity of the guidance and address unresolved issues.
-
May 24, 2024 | 
mondaq.com | Kenneth Parsons
At the 14th periodic meeting of the Treasury Tribal Advisory
Committee (TTAC) on May 15, 2024, representatives from the U.S.
Department of the Treasury and IRS announced that they anticipate
publishing guidance on the Tribal General Welfare Exclusion Act of 2014
(Act) this summer, nearly 10 years after the Act became law.
The guidance will be in the form of proposed regulations. Tribes
will have consultation and comment opportunities on the proposed
regulations before they become final.
-
May 22, 2024 | 
lexology.com | Kenneth Parsons
At the 14th periodic meeting of the Treasury Tribal Advisory Committee (TTAC) on May 15, 2024, representatives from the U.S. Department of the Treasury and IRS announced that they anticipate publishing guidance on the Tribal General Welfare Exclusion Act of 2014 (Act) this summer, nearly 10 years after the Act became law. The guidance will be in the form of proposed regulations. Tribes will have consultation and comment opportunities on the proposed regulations before they become final.
-
May 6, 2024 | 
lexology.com | Nicole Elliott |Amish Shah |Bradley Seltzer |Roger David Aksamit |Joshua David Odintz |Kenneth Parsons
The U.S. Department of the Treasury and IRS released final regulations on May 3, 2024, on Clean Vehicle Credits under Sections 25E and 30D of the Internal Revenue Code. Among other areas, the regulations provide final guidance on the transfer of these credits and the rules under Section 30D related to the sourcing of critical minerals and battery components, as well as the restrictions related to sourcing from foreign entities of concern (FEOC).
-
Apr 25, 2024 | 
lexology.com | Nicole Elliott |Amish Shah |Bradley Seltzer |Roger David Aksamit |Kenneth Parsons |Bryan Marcelino
As provided in the Inflation Reduction Act (IRA), eligible taxpayers may make a yearly election to transfer all (or any portion) of an eligible credit to an unrelated taxpayer under Section 6418 of the Internal Revenue Code, provided that consideration for such a transfer is paid in cash.
