This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending October 2024.
April 2025 - The Tax Adviser
INDIVIDUALS
Taxation of undocumented immigrants
Certain tax rules and considerations specifically affect undocumented immigrants in the United States and their common circumstances, such as being ineligible for certain tax credits.
TAX CLINIC
credits against tax
ESTATES, TRUSTS & GIFTS
GROSS INCOME
SPECIAL INDUSTRIES
TAX ACCOUNTING
employee benefits & pensions
Profits interests: The most tax-efficient equity grant to employees
By granting them a profits interest, entities taxed as partnerships can reward employees with equity. Mistakes, however, could cause challenges from taxing authorities.
