Insights on Tax

How does tax policy go from an idea to enacted law? In this episode of “Tax Stuff You Should Know,” hosts Bob Pluth and Gene Magidenko sit down with former US Congressman and longtime tax policy leader Phil English to explore the process behind tax legislation and what it means for taxpayers, businesses, and policymakers.

ArentFox Schiff is pleased to announce that 125 attorneys have been recognized by The Best Lawyers in America 2027, with two attorneys highlighted as “Lawyers of the Year” and 36 attorneys listed as “Ones to Watch.”

New York City’s Pied-à-Terre (PAT) surcharge, pursuant to New York State Tax Law Article 30-C, officially took effect on July 1, 2026. The PAT is an annual property tax aimed at individuals who own a residential property in New York City that is not their primary residence. The annual surcharge applies retroactively to January 1, 2026, and sunsets on June 30, 2031, unless extended by the New York State Legislature.

Family Office Industry Co-Leader Kevin Matz was featured on the Internal Revenue Service’s (IRS) most recent guidance regarding Trump account contributions that resolves most concerns about potentially burdensome gift tax reporting requirements.

Partner Susan Bart was quoted on effective ways to use the eponymous Trump accounts. US citizens born during 2026 through 2029 qualify to open a Trump account and have it funded with a $1,000 contribution from the government. Individuals, employers and charitable organizations may made additional contributions to a Trump account, subject to annual limitations.

ArentFox Schiff is pleased to announce that 23 practices and 81 attorneys have been recognized by The Legal 500 United States 2026 guide.

On December 22, the Internal Revenue Service (IRS) announced proposed updates to its Criminal Investigation Voluntary Disclosure Practice (VDP), opening a 90-day public comment period that closed on March 22. Revised procedures are expected to take effect six months after the changes are finalized.

On April 6, the US Department of the Treasury and the Internal Revenue Service (IRS) published Revenue Procedure 2026-14 (Designation Guidance) to provide guidance for the nomination of census tracts to be designated as qualified opportunity zones (OZs) under the now-permanent OZ regime under §§ 1400Z-1 and 1400Z-2 of the Internal Revenue Code, as amended by § 70421 of Public Law 119-21, 139 Stat. 72, 223 (July 4, 2025), commonly known as the One, Big, Beautiful Bill Act (OBBBA).

On April 23, Acting Attorney General Todd Blanche announced a final order reclassifying US Food and Drug Administration (FDA)-approved drug products containing “marijuana” and cannabis products regulated under qualifying state-issued medical marijuana licenses from Schedule I to Schedule III of the Controlled Substances Act (CSA), effective April 28. Critically, adult-use (recreational) cannabis remains in Schedule I.

In the latest episode of “Tax Stuff You Should Know,” hosts Bob Pluth and Gene Magidenko unpack the complexities of federal self-employment tax through the lens of the Fifth Circuit’s decision in Sirius Solutions. 

This alert summarizes recent developments regarding the District of Columbia’s attempt to decouple its local tax laws from the federal One, Big, Beautiful Bill Act (OBBBA) (Public Law 119-21), the congressional response disapproving of the District’s action, and the ongoing legal dispute between District officials over how to administer the 2025 and 2026 tax filing seasons.

In the latest episode of “Tax Stuff You Should Know,” hosts Bob Pluth and Gene Magidenko unpack the CFM Insurance decision, spotlighting the complexities of captive insurance arrangements and the Internal Revenue Service’s (IRS) scrutiny of them.

In the latest episode of “Tax Stuff You Should Know,” hosts Bob Pluth and Gene Magidenko unpack the income tax consequences of partnership liquidations and related traps for the unwary.

In the fourth episode of “Tax Stuff You Should Know,” hosts Bob Pluth and Gene Magidenko delve into the concept of profits interests, a valuable tool for partnerships and limited liability companies to reward service providers without triggering immediate adverse income tax consequences.

In episode three of “Tax Stuff You Should Know,” hosts Bob Pluth and Gene Magidenko delve into the intricate world of S corporations, tracing their historical development, examining the qualifications for electing S status, and identifying the missteps that can inadvertently revoke that designation.

ArentFox Schiff is pleased to announce that 132 attorneys have been recognized by The Best Lawyers in America 2026, with two attorneys highlighted as “Lawyers of the Year” and 66 attorneys listed as “Ones to Watch.”

On July 4, President Donald Trump signed into law P.L. 119-21, the “One Big Beautiful Bill Act” (OBBBA), which, among other notable changes to the US tax system, rolls back several renewable energy incentives enacted under the Inflation Reduction Act of 2022 (IRA) and creates new restrictions on renewable energy incentives for taxpayers with certain foreign entity connections, which are detailed below.

In this episode of Tax Stuff You Should Know, hosts Bob Pluth and Gene Magidenko delve into the complexities of profits interests, a compensation tool for partnerships and limited liability companies (LLCs) taxed as partnerships.

The qualified small business stock (QSBS) rules can be a powerful tax planning tool, and, following the recent enactment of a signature tax law, they have become even more potent.

The One Big Beautiful Bill Act introduces substantial changes to federal tax law, including select provisions affecting tax-exempt organizations and charitable contribution deductions for individual and corporate taxpayers.

On July 4, President Donald Trump signed into law P.L. 119-21, the “One Big Beautiful Bill Act” (OBBBA), enacting significant changes to the US tax system.

Welcome to the first episode of “Tax Stuff You Should Know,” hosted by Robert R. Pluth, Jr. and Evgeny Magidenko. In this episode, Bob and Gene discuss the assignment of income doctrine, its implications in tax law, and the recent Hoensheid case.

The “One Big Beautiful Bill Act” — budget reconciliation bill signed into law on July 4 — and a new Executive Order (EO) have clarified that solar and wind generation.

ArentFox Schiff is pleased to announce that eight attorneys have been recognized in Lawdragon’s inaugural list of 500 Leading Tax Lawyers for 2025, which named these attorneys as “titans of tax disputes, the empresses of exemption, the pashas of private wealth.”

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.