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Articles by Eric Kodesch
Oregon Would Tax Oregonians (And Only Oregonians) On All Gain From The Sale Of QSBS Under Proposed Bill
Lewis M. Horowitz’s articles from Ballard Spahr LLP are most popular: with Senior Company Executives, HR and Inhouse Counsel in United States with readers working within the Aerospace & Defence industries UPDATE: On Friday, February 20, the House Revenue Committee sent SB 1507 to the floor with a “Do Pass” recommendation. The full chamber is scheduled to vote on the bill on Tuesday, February 24.
Oregon Would Tax Oregonians (and Only Oregonians) on All Gain From the Sale of QSBS Under Proposed Bill | JD Supra
Like its neighbors to the north (Washington), and south (California), Oregon has developed a reputation for being unfriendly to businesses. This reputation has its roots in several areas, but unfavorable tax policy is chief among them. On Monday, February 16, 2026, the Senate passed a bill, SB 1507, on party lines (with one Democrat voting with the Republicans against the bill) that would punish Oregonians (and only Oregonians) who sell successful businesses.
President Trump's Budget Extends His 2017 Individual Tax Provisions
BS Ballard Spahr LLP More Ballard Spahr LLP—an Am Law 100 law firm with more than 750 lawyers in 18 U.S. offices—serves clients across industries in litigation, transactions, and regulatory compliance. A strategic legal partner to clients, Ballard goes beyond to deliver actionable, forward-thinking counsel and advocacy powered by deep industry experience and an understanding of each client’s specific business goals.
President Trump’s Budget Extends His 2017 Individual Tax Provisions
On Friday, July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (OBBBA). This alert provides a high-level summary of the provisions in the OBBBA impacting individuals. As described below, the OBBBA made permanent (with some modifications) many provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) otherwise set to expire at the end of this year. We previously described the TCJA in our earlier alert.
President Trump’s Budget Extends His 2017 Individual Tax Provisions | JD Supra
Summary President Trump signed into law what is commonly referred to as the One Big Beautiful Bill Act (OBBBA), extending provisions from the Tax Cuts and Jobs Act of 2017 otherwise set to expire at the end of this year. The new budget law also includes three new individual tax provisions that originated as campaign promises during the 2024 election, as well as other changes.
President Trump’s Budget Extends His 2017 Individual Tax Provisions
Summary President Trump signed into law what is commonly referred to as the One Big Beautiful Bill Act (OBBBA), extending provisions from the Tax Cuts and Jobs Act of 2017 otherwise set to expire at the end of this year. The new budget law also includes three new individual tax provisions that originated as campaign promises during the 2024 election, as well as other changes.
Finally Received The Employee Retention Credit? Now What? A Guide To ERC Income Tax Consequences
It appears that the flood gates have opened and that the IRS is finally processing and paying claims for the employee retention credit (ERC) en masse. After waiting a very long time (often years) with no contact from the IRS, many employers suddenly find themselves receiving large checks. While this is a welcome change, it also creates new questions concerning the income tax impacts of receipt of the ERC.
Finally Received the Employee Retention Credit? Now What? A Guide to ERC Income Tax Consequences | JD Supra
Summary It appears that the flood gates have opened and that the IRS is finally processing and paying claims for the employee retention credit (ERC) en masse. After waiting a very long time (often years) with no contact from the IRS, many employers suddenly find themselves receiving large checks. While this is a welcome change, it also creates new questions concerning the income tax impacts of receipt of the ERC.
Finally Received the Employee Retention Credit? Now What? A Guide to ERC Income Tax Consequences
Summary It appears that the flood gates have opened and that the IRS is finally processing and paying claims for the employee retention credit (ERC) en masse. After waiting a very long time (often years) with no contact from the IRS, many employers suddenly find themselves receiving large checks. While this is a welcome change, it also creates new questions concerning the income tax impacts of receipt of the ERC.
IRS Changes Course on Income Tax Impact of Employee Retention Credit | JD Supra
Summary On March 20, 2025, the IRS updated its guidance to employers that claimed the employee retention credit (ERC). The updated guidance materially differs from prior IRS guidance of how and when employers should report the income tax impact of the ERC. The Upshot In the updated FAQs, the IRS describes how employers can report taxable income in the year the ERC payment is received.
IRS Changes Course on Income Tax Impact of Employee Retention Credit
Summary On March 20, 2025, the IRS updated its guidance to employers that claimed the employee retention credit (ERC). The updated guidance materially differs from prior IRS guidance of how and when employers should report the income tax impact of the ERC. The Upshot In the updated FAQs, the IRS describes how employers can report taxable income in the year the ERC payment is received.
Washington Capital Gains Tax: Checklist Of Factors Relevant To A Taxpayer's Domicile - Property Taxes - United States
Note: This checklist was prepared to address the Washington capital gains tax, effective January 1, 2022, for those taxpayers interested in changing their domicile from Washington. However, many of the same factual issues are considered by other states when assessing whether a particular taxpayer has abandoned one domicile and/or established a new domicile. General Rule: Washington does not have an income tax, but the legislature enacted a capital gains tax effective January 1, 2022.
Moore Or Less (Tax): U.S. Supreme Court Action Signals Need For Protective Refund Claims For IRC § 965 Inclusions
The U.S. Supreme Court has agreed to consider whether the mandatory repatriation tax (MRT) resulting from the deemed repatriation under IRC § 965 is constitutional. No decision is expected until 2024. Taxpayers generally reported the deemed repatriation on their 2017 tax returns, but for some taxpayers the deemed repatriation was reported on their 2018 returns.
Moore or Less (Tax): U.S. Supreme Court Action Signals Need for Protective Refund Claims for IRC § 965 Inclusions
The U.S. Supreme Court has agreed to consider whether the mandatory repatriation tax (MRT) resulting from the deemed repatriation under IRC § 965 is constitutional. No decision is expected until 2024. Taxpayers generally reported the deemed repatriation on their 2017 tax returns, but for some taxpayers the deemed repatriation was reported on their 2018 returns.
Oregon Tax Court Rejects Oregon Department Of Revenue's Position On The Sales Factor Impact Of The 2017 Deemed Repatriation
United States: Oregon Tax Court Rejects Oregon Department Of Revenue's Position On The Sales Factor Impact Of The 2017 Deemed Repatriation 30 December 2021 by Lewis M. Horowitz and Eric J. Kodesch Lane Powell To print this article, all you need is to be registered or login on Mondaq.com. Oracle Corporation v. Dept.
IRC § 1202 And Build Back Better — The Halloween Edition - Tax - United States
United States: IRC § 1202 And Build Back Better — The Halloween Edition 04 November 2021 by Lewis M. Horowitz and Eric J. Kodesch Lane Powell To print this article, all you need is to be registered or login on Mondaq.com. The Democratic effort to enact President Biden's agenda has taken a rather convoluted path in terms of initiatives, price tag, and revenue-raising provisions.
Oregon Adopts Tax Deduction Workaround for Oregon Income Taxes Attributable to Partnership and S Corporation Income
Under recently enacted Oregon legislation, certain partnerships and S corporations may elect to pay an “alternative business income tax” at the entity level. Or Laws 2021, ch 589 (SB 727).
SBA To Withdraw Uncertainty Certification Questionnaire - Finance and Banking - United States
United States: SBA To Withdraw Uncertainty Certification Questionnaire 12 July 2021 by Lewis M. Horowitz (Seattle) and Eric J. Kodesch (Seattle) Lane Powell To print this article, all you need is to be registered or login on Mondaq.com.
IRS Guidance For The Employee Retention Credit Punishes PPP Borrowers For Not Including Nonpayroll Costs In PPP Loan Forgiveness Application
United States: IRS Guidance For The Employee Retention Credit Punishes PPP Borrowers For Not Including Nonpayroll Costs In PPP Loan Forgiveness Application 29 April 2021 by Lewis M. Horowitz and Eric J. Kodesch Lane Powell To print this article, all you need is to be registered or login on Mondaq.com.
Hitting The 'Reset' Button On Paid Leave Under The American Rescue Plan
United States: Hitting The 'Reset' Button On Paid Leave Under The American Rescue Plan 28 April 2021 by Hannah Ard , Katheryn Bradley and Eric J. Kodesch Lane Powell To print this article, all you need is to be registered or login on Mondaq.com.
Restaurant Revitalization Fund: Newest Addition To The List Of SBA Stimulus Programs
United States: Restaurant Revitalization Fund: Newest Addition To The List Of SBA Stimulus Programs 28 April 2021 by Lewis M. Horowitz and Eric J. Kodesch Lane Powell To print this article, all you need is to be registered or login on Mondaq.com. The $1.9 trillion American Rescue Plan Act of 2021 (ARP), signed into law on March 11, 2021, includes a $28.6 billion "Restaurant Revitalization Fund" (RRF) administered by the Small Business Administration (SBA).
Employee Retention Credit Just Got Even Better Under The American Rescue Plan Act Of 2021!
United States: Employee Retention Credit Just Got Even Better Under The American Rescue Plan Act Of 2021! 28 April 2021 by Lewis M. Horowitz and Eric J. Kodesch Lane Powell To print this article, all you need is to be registered or login on Mondaq.com. The American Rescue Plan Act of 2021 (ARP), signed into law on March 11, does much for many, but one of the key parts is the material extension and expansion of the Employee Retention Credit (ERC).
SBA Guidance For PPP Loan Forgiveness Incorporates Changes From The Year‑End 2020 Recovery Bill
United States: SBA Guidance For PPP Loan Forgiveness Incorporates Changes From The Year‑End 2020 Recovery Bill 25 January 2021 by Lewis M. Horowitz and Eric J. Kodesch Lane Powell To print this article, all you need is to be registered or login on Mondaq.com.
Employee Retention Credit: Summary Of Key Changes For 2020 And 2021
United States: Employee Retention Credit: Summary Of Key Changes For 2020 And 2021 25 January 2021 by Lewis M. Horowitz and Eric J. Kodesch Lane Powell To print this article, all you need is to be registered or login on Mondaq.com. COVID-19 Resource The deluge of legislative and regulatory rules designed to ameliorate the impact of the COVID-19 pandemic can confuse anyone.
Employee Retention Credit Materially Expanded By The CAA21
United States: Employee Retention Credit Materially Expanded By The CAA21 06 January 2021 by Lewis M. Horowitz and Eric J. Kodesch Lane Powell To print this article, all you need is to be registered or login on Mondaq.com. COVID-19 Resource Much of the attention throughout 2020 was on the Paycheck Protection Program (PPP), which Congress enhanced just before the holidays with the Consolidated Authorizations Act, 2021 (CAA21).
Congress Again Modifies Paycheck Protection Program Loans To Make Full Forgiveness Easier To Obtain And More Beneficial
To print this article, all you need is to be registered or login on Mondaq.com. Since the creation of the Paycheck Protection Program (PPP) with the enactment of the CARES Act, we have characterized the PPP as a government grant in the form of a forgivable loan. Congress enhanced this grant treatment with the Paycheck Protection Program Flexibility Act (Flexibility Act).
New PPP Loan FAQ About The Loan Necessity Questionnaire Fails To Resolve Ambiguity About Whether The SBA Will Use Hindsight To Assess The Uncertainty Certification - Finance and Banking - United States
United States: New PPP Loan FAQ About The Loan Necessity Questionnaire Fails To Resolve Ambiguity About Whether The SBA Will Use Hindsight To Assess The Uncertainty Certification 14 December 2020 by Lewis M. Horowitz and Eric J. Kodesch Lane Powell To print this article, all you need is to be registered or login on Mondaq.com. The Small Business Administration (SBA) has updated its Paycheck Protection Program (PPP) loan FAQs to add FAQ 53, which concerns the Loan Necessity Questionnaire.
SBA's PPP Questionnaire (Form 3509) Challenged By Construction Trade Association
United States: SBA's PPP Questionnaire (Form 3509) Challenged By Construction Trade Association 11 December 2020 by Lewis M. Horowitz and Eric J. Kodesch Lane Powell To print this article, all you need is to be registered or login on Mondaq.com.
PPP Provisions In The Bipartisan Emergency COVID Relief Act Of 2020
United States: PPP Provisions In The Bipartisan Emergency COVID Relief Act Of 2020 11 December 2020 by Lewis M. Horowitz and Eric J. Kodesch Lane Powell To print this article, all you need is to be registered or login on Mondaq.com. Following months of on-again, off-again negotiations among representatives of both parties, both chambers of Congress, the U.S. Treasury Department and the White House, it appears that another stimulus bill is on the horizon.
Impact Of COVID-19 On Oregon Property Taxes: Property Owners Unlikely To See Significant Property Tax Relief Despite Drop In Real Market Value
To print this article, all you need is to be registered or login on Mondaq.com. As demonstrated by the second quarter gross domestic product (GDP) numbers and the unemployment rate, the COVID-19 pandemic is having a devastating impact on the United States economy.
The IRS Doubles Down On Its No Double Dipping Rule: No Deduction For Otherwise Deductible Payments Reasonably Expected To Result In PPP Loan Forgiveness - Finance and Banking - United States
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PPP Forgiveness And Expense (DIS?) Allowance: Notice 2020-32
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Portland, Oregon Area Voters Approve County Personal Income Tax And Reject Proposed Payroll Tax
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SBA Replaces ‘EZ' With ‘S' To Streamline PPP Loan Forgiveness Application For Many Borrowers
Mondaq Ltd requires you to register and provide information that personally identifies you, including your content preferences, for three primary purposes (full details of Mondaq’s use of your personal data can be found in our Privacy and Cookies Notice): Mondaq hopes that our registered users will support us in maintaining our free to view business model by consenting to our use of your personal data as described below. Mondaq has a "free to view" business model.
SBA Muddies The Waters By Issuing Complicated Reporting Requirements For Ownership Changes Of A PPP Borrower
To print this article, all you need is to be registered or login on Mondaq.com. COVID-19 Resource The Small Business Administration (SBA) released a Procedural Notice that establishes an approval process for transactions that result in a change in ownership of a paycheck protection program (PPP) borrower. The guidance is relatively clear, but comes very late in the PPP cycle and unnecessarily creates many obstacles and questions.
New Uncertainty About The Uncertainty Certification: SBA's Draft Questionnaires For PPP Loans Over $2 Million
United States: New Uncertainty About The Uncertainty Certification: SBA's Draft Questionnaires For PPP Loans Over $2 Million 10 November 2020 by Lewis M. Horowitz and Eric J. Kodesch Lane Powell To print this article, all you need is to be registered or login on Mondaq.com. The Small Business Administration has released draft questionnaires for review of paycheck protection program loan forgiveness applications of $2 million or more.
Employee Retention Credit Available for Businesses That Repay Their PPP by May 14 | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
The SBA Extends Deadline to Review Uncertainty Certification | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
Run It Back — Maximizing PPP Loan Forgiveness | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
PPP Game Rules Change Again With the Sixth Interim Final Rule: Disbursements | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
No Double Dipping: No Deduction for Otherwise Deductible Payments Made With Forgiven PPP Loan Proceeds (Notice 2020-32) | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
IRS Issues New FAQs for Employee Retention Credit, the CARES Act Relief Provision for Employers Too Big, Too Late or Too Worried About PPP Loans | JD Supra
Paycheck Protection Program (PPP) loans have received the most attention - both positive about the benefits they provide and negative about borrowers now fearing that they are no longer considered eligible. The employee retention credit (ER Credit) has received far less attention but for many it will prove more valuable than the PPP.
Run It Back — Maximizing PPP Loan Forgiveness | Lexology
For businesses fortunate enough to obtain a Paycheck Protection Program (PPP) loan, one of the biggest questions is how the forgiveness part of the program will work. We previously provided some guidance on loan forgiveness, in this Legal Update, noting the many open issues that require Small Business Administration (SBA) policy decisions and published guidance. The SBA was to issue guidance on this issue by April 26, but that day has come and gone without any new policy decisions on the subject.
The 'Laker Effect' Continues: Ongoing Uncertainty With PPP Borrowers’ Uncertainty Certification | JD Supra
Probably the best known provision of the CARES Act is the creation of the forgivable payroll protection program (PPP) loan, but the devil truly has been in the details and those trying to keep up with the changing landscape could be forgiven if they throw their hands up in frustration.
PPP Certification and the Uncertainty Principle — FAQ 31 Retroactively Reduces Uncertainty About ‘Uncertainty’ and the Need for a PPP | JD Supra
Congress just replenished the funds available for Paycheck Protection Program (PPP) loans, opening the gates to billions in forgivable loans to qualifying small business borrowers via the PPPHCEA (details about the new law and what all those letters mean here).
IRS CARES Enough to Give PPP Loan Recipients an Interest-Free Loan From Continued Deferral of the Employer Portion of the Social Security Tax | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
Every Business That Received a Payroll Protection Program Loan (PPP Loan) CARES About Forgiveness | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
PPP Affiliation Not What it Used to Be | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
SBA Provides Much Needed Guidance for PPP Loans | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
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