Key insights President-elect Biden ran on proposed increases of top tax rates. Tax rate increases may not occur until a later year (if at all), and may not affect you. Acceleration of income may not be appropriate in all circumstances. Your individual situation can help to determine if you should take action or wait and see. As part of his campaign, President-elect Biden proposed an increase of the top tax rates on personal income (from 37% to 39.6%), capital gains...

In this vein, Troutman Pepper released a podcast to expand upon the theories asserted in these new board-diversity derivative actions, analyze potential problems for plaintiffs in sustaining the claims, and provide additional guidance on how to respond to a shareholder demand to take action to address diversity and inclusion. Listen here: Board Diversity Podcast | Momentum continues to build to mandate diversity on corporate boards. A new proposal by Nasdaq will require all Nasdaq-listed companies to have at least two diverse...

Many foreign businesses and individuals planning on setting up or investing in a U.S. partnership or multimember LLC (“U.S. partnership”) that will be engaged in an active business in the U.S., have the following questions: What are U.S. tax consequences as a foreign investor into a U.S. partnership with an active business? As a foreign investor do I need a taxpayer identification number from the internal revenue service (“IRS”)? What should I do as a foreign investor and what...