Insights on Tax

On May 22, the US House of Representatives passed H.R. 1, the “One Big Beautiful Bill Act.” This alert highlights the provisions in the Bill that could impact tax-exempt organizations.

This week, the US House Ways and Means Committee released tax legislation that includes several provisions relevant to tax-exempt organizations.

On May 14, the US House Ways and Means Committee advanced its initial markup version of The One, Big, Beautiful Bill, following 17 hours of a Committee meeting to markup the bill with no changes from the 389-page text that was released on May 12.

A May 2 report from the US Treasury Inspector General for Tax Administration (TIGTA) found that as of March, the Internal Revenue Service (IRS) workforce had fallen by 11,443 employees, or 11%, due to probationary employee terminations and deferred resignations. This drastic reduction in the IRS workforce came amid cuts from the Trump Administration’s Department of Government Efficiency (DOGE).

ArentFox Schiff served as legal counsel to American Skating Entertainment Centers, LLC, a leading owner and operator of ice-skating and indoor sports facilities across the United States, including Toyota Sports Performance Center home of the LA KINGS, UCLA Health Training Center home of the LA Lakers, Wake Competition Center home of the Carolina Hurricanes, and the LA Galaxy Soccer Center, in connection with its strategic partnership with Seidler Equity Partners.

ArentFox Schiff professionals will discuss recent matters that directly impact the life sciences industry and its trajectory.

With 2025 underway, the AFS Health Care team highlights some of the most pressing legal issues facing the health care industry this year.

On February 6, Congressional Republican leaders met with President Donald Trump to address the Trump Administration’s 2025 budget and tax priorities. During that meeting, the Trump Administration proposed to eliminate capital gains tax treatment on carried interest.

Government Relations Co-Chair Phil English will present at Florida Tax Institute’s 2025 conference in Tampa, Florida, on February 7, 2025.

ArentFox Schiff represented Triumvirate Environmental, Inc. in its recently completed transaction with Boston-based private equity firm, Berkshire Partners, pursuant to which Berkshire made a significant growth investment in Triumvirate, based upon a company valuation of $1.8 billion.

ArentFox Schiff represented international music publisher Wise Music Group in the sale of its Digital Education division to private equity firm Achieve Partners.

In his published article, “The Corporate Transparency Act Whipsaw Continues,” Partner Evgeny Magidenko provides an in-depth analysis of the current legal landscape surrounding the Corporate Transparency Act (CTA) following a series of judicial decisions.

The incoming Trump Administration’s approach to the Inflation Reduction Act (IRA) and tax policies is generating significant interest within the electric vehicle (EV) sector.

The ongoing Los Angeles, California, wildfires have caused widespread devastation, forcing residents to evacuate, and have destroyed homes and communities. President Joe Biden approved a Major Disaster Declaration in response to the wildfires in Los Angeles County on January 8.

Government Relations Co-Leader Dan Renberg, Co-Chairs Phil English and Byron Dorgan, and Partner Elizabeth Horner will join the Brazilian-American Chamber of Commerce in a webinar examining the implications of the 2024 Presidential and Congressional election results on January 8, 2025.

The United States awoke on November 6 to a changed and improbable political landscape. The nation has re-elected Donald J. Trump as President and has given him a US Senate Republican majority and potentially a US House of Representatives Republican majority as well. As fatigued and steadfast local and state election workers continue to sort through ballots, we continue to look to the finalization of tallies for some remaining Senate and House races to determine the nature and size of Congressional majorities.

ArentFox Schiff has been nationally recognized with 35 top rankings in the 2025 edition of Best Law Firms®, which honors firms for professional excellence based on consistently positive ratings from clients and peers.

ArentFox Schiff is pleased to announce that 135 attorneys have been recognized by The Best Lawyers in America 2025, with two attorneys highlighted as “Lawyers of the Year” and 70 attorneys listed as “Ones to Watch.”

ArentFox Schiff advised Wintrust Financial Corporation (Nasdaq: WTFC) on its merger with Macatawa Bank Corporation. On August 1, the parties jointly announced the completion of their previously announced merger whereby Wintrust acquired Macatawa in an all-stock transaction.

This article discusses the S corporation rules, several common S corporation traps for the unwary, how to prevent a violation of a rule, and how to rectify an inadvertent termination of S corporation status.

In the latest installment of Five Questions, Five Answers, host Birgit Matthiesen sits down with Thomas Boylan, regulatory director at Zero Emission Transportation Association (ZETA), to discuss the importance and benefits of transitioning to electric vehicles (EVs), specifically electric school buses, for public health, climate, and economic advantages.

On June 12, the DC City Council passed the District’s Fiscal Year 2025 (FY25) budget, which includes a 0.49% increase to the mandatory employer payroll tax to support the Universal Paid Family Leave Program.

Andy Katzenberg will present at the Parkbridge Wealth Management Spring Webinar on May 30, 2024.

Senator Doug Jones and Gene Magidenko will present at the FBA’s Corporate and Association Counsel Division webinar on May 16, 2024.

The Internal Revenue Service (IRS) has begun the process of informing over 70,000 taxpayers that their confidential tax information was leaked in a widespread breach by a former IRS contractor.