Insights on Tax

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.

Schiff Hardin LLP is pleased to announce that Partner Stephen Liss and Christopher Floss have been named “Go-To Thought Leaders” and recognized with the COVID Legislation Estates & Trusts Impact award by National Law Review.

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.

ABA Section of Real Property, Trust & Estate Law

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.

Michigan Governor Gretchen Whitmer today signed into law a bill that eliminates the state’s six percent sales tax on menstrual products, ending a multi-year legislative effort and a class action lawsuit that challenged the legality of the sales and use tax.

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.

Schiff is pleased to announce that Partner Joanne Faycurry has been elected to become a fellow of the American College of Tax Counsel (ACTC).

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.

Sixty-nine Arent Fox LLP attorneys have been rated as leaders in their profession by The Best Lawyers in America 2022.

Schiff Hardin LLP is pleased to announce that three attorneys have been named to the Michigan Super Lawyers and Rising Stars lists for 2021.

On June 8, the Michigan legislature, in an overwhelming bipartisan vote, passed two bills providing for exemptions from the state’s sales and use tax for certain personal protective equipment and supplies (PPES).

On June 1, 2021, the Illinois General Assembly passed S.B. 2017, implementing the State of Illinois budget for the 2022 fiscal year, which Governor J.B. Pritzker is expected to sign. The bill includes several material changes to Illinois state taxes affecting many businesses.

The United States Tax Court on April 27, 2021, ruled that Mylan Inc. could deduct the legal fees it incurred in defending itself against patent infringement claims made by other drug manufacturers while pursuing generic pharmaceutical drug applications.

In March, following the passage of the American Rescue Plan Act of 2021, President Biden announced the American Jobs Plan, an infrastructure spending plan, and the Made in America Tax Plan, a tax reform plan that seeks to raise corporate income taxes.

The American Rescue Plan Act of 2021 (ARPA) allows employers with fewer than 500 employees to claim refundable tax credits to offset the cost of providing COVID-19-related paid sick and family leave to employees, including leave taken by employees to receive or recover from COVID-19 vaccinations.

On April 1, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit comments from the public on issues relevant to the implementation of the Corporate Transparency Act (CTA). The CTA was enacted into law as part of the National Defense Authorization Act for Fiscal Year 2021.

The proposals in the Framework echo many of the themes set forth in the Made in America Tax Plan.

Schiff Hardin LLP is pleased to announce that Partner Susan Bart served as one of the compiling editors for the American College of Trust and Estate Counsel (ACTEC) Pocket Tax Tables guide.

On March 31, 2021, President Biden presented an infrastructure spending plan coupled with a tax reform plan that seeks to raise corporate income taxes (the “American Jobs Plan” and the “Made in America Tax Plan”).

The Employee Retention Tax Credit (ERTC) has been expanded and extended further, providing relief to small and large employers affected by COVID-19 business disruptions. As we approach the one-year anniversary of its original enactment, employers should take a fresh look at their eligibility for the