{"id":15992,"date":"2025-12-08T18:19:07","date_gmt":"2025-12-09T02:19:07","guid":{"rendered":"https:\/\/familyenterpriseusa.com\/?p=15992"},"modified":"2025-12-08T19:17:54","modified_gmt":"2025-12-09T03:17:54","slug":"washington-update-critical-new-tax-moves-ahead-see-what-could-impact-family-businesses-now","status":"publish","type":"post","link":"https:\/\/familyenterpriseusa.com\/taxes\/washington-update-critical-new-tax-moves-ahead-see-what-could-impact-family-businesses-now\/","title":{"rendered":"Washington Update: Critical New Tax Moves Ahead – See What Could Impact Family Businesses Now"},"content":{"rendered":"

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Kies Flags Upcoming Guidance and the 2026 Filing Season: On Nov. 20, Treasury Assistant Secretary for Tax Policy and Acting IRS Chief Counsel Ken Kies spoke at a conference where he highlighted upcoming guidance related to One Big Beautiful Bill Act (OBBBA) implementation. He specifically noted new incentives for tips and overtime, factory investments, bonus depreciation, \u201cTrump accounts,\u201d school choice credits.\u00a0 Get more details.<\/a><\/strong><\/h2>\n

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Guidance for the 2026 Filing Season for Taxpayers Claiming the Tip and Overtime Deduction: On Nov. 21, the Treasury Department and the Internal Revenue System (IRS) issued\u00a0Notice 2025-69<\/a>, providing 2025-only guidance for individuals claiming the deductions for \u201cqualified tips\u201d and \u201cqualified overtime compensation\u201d for tax years 2025\u20132028. Since Forms W\u20112 and 1099 for 2025 will not separately report these amounts. \u00a0Get more details.<\/a><\/strong><\/em><\/h3>\n

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Comments Requested on Tax Credits for Scholarship Granting Organizations: On Nov. 26, the Treasury Department and the Internal Revenue System (IRS) issued\u00a0Notice 2025-70<\/a> announcing their intent to issue guidance under section 25F, which provides a nonrefundable individual income tax credit of up to $1,700 per year beginning in 2027 for cash contributions to state-certified scholarship granting organizations (SGOs) that fund elementary and secondary education scholarships for income-limited eligible students. Get more details.<\/a><\/p>\n

IRS Issues Final Guidance on Corporate Stock Buyback Tax: On Nov. 21, the Internal Revenue System (IRS) issued<\/a> final regulations for corporate stock repurchases under the Inflation Reduction Act. The final rules clarify their application after Dec. 31, 2022, modify exceptions for reorganizations, retirement plan contributions and regulated investment companies (RICs) and real estate investment trusts (REITs). Get more details.<\/a><\/p>\n

Ongoing Global Tax Negotiations Include Potential One-Year Safe Habor: The interim safe harbor that simplifies tax calculations under the global minimum tax deal is reportedly being considered for a one-year extension to 2027. The proposal comes as the United States continues to press the Organisation for Economic Co-operation and Development (OECD) to adopt a side-by-side approach that would exclude U.S. multinationals from the Pillar Two global minimum tax. Get more details.<\/a><\/p>\n

Republican Tax Writers Send Letter to POTUS on Proposed French DST Increase: On Nov. 25, 16 Republican members of the House Ways and Means Committee sent a letter to President Trump expressing significant concerns with France\u2019s recent proposed increase in its digital services tax (DST). They highlighted that the tax unfairly targets large American digital companies and imposes substantial additional costs and threatens U.S. investment. Get more details.<\/a><\/p>\n

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Don\u2019t miss the full breakdown – see what these changes could mean for you. Read the full article now and discover the updates everyone will be talking about.<\/strong><\/a><\/span><\/h3>\n

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About Brownstein Hyatt Farber Schreck
<\/strong>Brownstein Hyatt Farber Schreck is a unique law firm. Walk into any of our offices and you\u2019ll immediately recognize a different type of energy. Complacency doesn\u2019t have a place here. Flexibility and inspiration do.\u00a0Our culture and enthusiasm allow our attorneys, policy consultants and legal staff to stay ahead of our clients\u2019 needs and provide them with the resources they require to meet their business objectives.<\/p>\n

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We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…<\/em><\/h4>\n

As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a member.<\/p>\n

The need for fact-based reporting of issues important to family owned businesses<\/a> and protecting a lifetime of savings<\/a> has never been greater. Now more than ever, successful families<\/a> and family owned businesses<\/a> are under fire. That’s why Family Enterprise USA<\/a> is passionately working to increase the awareness of issues important to family owned businesses<\/a> built on hard work, while continuing to strengthen our presence on Capitol Hill. The issues we fight for or against with Congress in Washington DC include high income tax rates<\/a>, possible elimination of valuation discounts, increase in capital gains tax<\/a>, enactment of a wealth tax<\/a>, and the continued burden of the gift tax<\/a>, estate tax<\/a> and generation skipping tax<\/a>.<\/p>\n

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Family Enterprise USA<\/a> promotes generationally<\/a> owned family business<\/a> creation, growth, viability, and sustainability by advocating for family businesses<\/a> and their lifetime of savings with Congress<\/a> in Washington DC.\u00a0 Since 2007, Family Enterprise USA<\/a> has represented and celebrated\u00a0all sizes, professions and industries of family-owned enterprises and multi-generational<\/a> employers. It is a bi-partisan 501.c3 organization.\u00a0Family foundations can donate.<\/a><\/p>\n

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#incometax #CapitalGainsTax #R&DExpensing #DontPunishSuccess #GrantorTrusts #StepUpinBasis #likeKindExchanges #AcceleratedDepreciation #EstateTax #Deathtax #wealthtax #taxLegislation #CongressionalCaucus #incometaxrates #repealestatetax #AdvocatingForFamilyBusinesses #FamilyOwnedBusiness #WomenOwnedBusiness @FamilyEnterpriseUSA #FamilyEnterpriseUSA #FEUSA<\/p>\n

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Kies Flags Upcoming Guidance and the 2026 Filing Season: On Nov. 20, Treasury Assistant Secretary for Tax Policy and Acting IRS Chief Counsel Ken Kies spoke at a conference where he highlighted upcoming guidance related to One Big Beautiful Bill Act (OBBBA) implementation. He specifically noted new incentives for tips and overtime, factory investments, bonus […]<\/p>\n","protected":false},"author":2,"featured_media":15998,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[48,43,92,76,36],"tags":[],"class_list":["post-15992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-estate-taxes","category-multi-generational-business","category-income-taxes","category-taxes"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/15992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15992"}],"version-history":[{"count":6,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/15992\/revisions"}],"predecessor-version":[{"id":16004,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/15992\/revisions\/16004"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/15998"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}